Mozambican insurers Hollard Mozambique and Global Alliance Seguros will proceed in August with the merger of their operations, a process that will create a single company and allow the new group to control more than 30% of the Mozambican insurance market.
The plan provides for the integration of Global Alliance Seguros, Hollard Mozambique Companhia de Seguros, and Hollard Vida into a single entity. To formalise the transaction, the three companies have convened extraordinary general meetings for 10 August, according to documents cited by Lusa.
The merger represents the next step following Hollard Mozambique’s acquisition of 100% of Global Alliance Seguros, which was completed on 1 April 2025. At the time, the insurer estimated that the integration of operations would take approximately 18 months, during which it intends to consolidate market leadership and achieve a share exceeding 30%, while not ruling out the possibility of workforce reductions.
‘This is the first day of our journey towards integration. Over the next 18 months we will work to fully merge the operations of Hollard and Global Alliance, under a single management team, ensuring continuity, excellence, and an improved experience for the client,’ said Hollard Mozambique chief executive Henri Mittermayer at a press conference in Maputo at the time.
On the same occasion, Mittermayer explained that, prior to the acquisition, Hollard already led the Mozambican insurance market with a 21% share. With the integration of Global Alliance, the company expects to increase that share to between 30% and 35%, though it declined to disclose the value paid for the acquisition.
‘We prefer, in terms of shareholders, not to declare the value of the acquisition cost. I can say that this is a significant signal in terms of our commitment to Mozambique and an investment that the shareholders are making in Mozambique,’ Mittermayer said, adding: ‘Within 18 months we will be operating under the Hollard brand.’
Also during the presentation of the transaction, Hollard Mozambique human resources director Imran Esmael acknowledged that processes of this nature may result in some staff departures, but assured that the company is conducting the integration with the utmost care. ‘We will do everything so that the impact on people is as small as possible, and if we conclude that it is not necessary for anyone to leave, no one will leave,’ he said.
According to Mittermayer, the operation goes well beyond a simple combination of the two companies’ insurance portfolios, representing a full integration of their respective activities. The executive argued that the merger will allow the group to broaden its product offering, improve operational efficiency, and enhance the quality of service delivered to clients, while also contributing to the strengthening of the insurance sector in Mozambique.
The transaction was authorised by the Competition Regulatory Authority in October 2024, when the regulator estimated that Hollard would come to control 31.7% of the market. The authority decided unanimously not to raise objections to the acquisition, having determined that the operation would not create obstacles to competition. Following consultation with the Insurance Supervisory Institute of Mozambique, the regulator also concluded that, although the market would become more concentrated, sufficient competition among insurers would remain.
Source: Diário Económico
Original article: https://www.diarioeconomico.co.mz/2026/07/09/economia/seguros/hollard-e-global-alliance-preparam-fusao-de-operacoes-para-controlar-mais-de-30-do-mercado-segurador/
