Hollard poised to become the number two non-life insurer

With the acquisition of Etana Insurance, Hollard could become the number two non-life insurance company in South Africa. The company spent nearly 1 billion ZAR (95 million USD) to get hold of Etana Insurance’s entire capital which it already controls at 40%.

By June 30, 2012, both entities combined with a workforce of 1 900 employees, have reported a turnover of 10.6 billion ZAR (1 billion USD) in non-life insurance.