Hollard units sell stake to Tokio Marine
Tokio Marine Group will acquire a 22.5% stake in Hollard South Africa and Hollard International, which covers operations across Africa, Indonesia and China.
It aids Tokio Marine’s expansion into Africa and Asia, and fulfils the Hollard businesses’ ambitions of partnering with a major international insurance group.
Hollard’s Australian and New Zealand businesses are not included in the transaction.
The deal is subject to regulatory approval.