Tokio Marine & Nichido Fire Insurance has joined forces with South African insurer Hollard to gain a foothold in the African market.

It aims to serve Japanese clients in sub-Saharan Africa and will open a Johannesburg office on April 1.

Hollard has set up an internal Japan desk, enabling Tokio Marine to offer products and services to its clients through Hollard’s African network.

Hollard has non-life licences in South Africa, Namibia, Botswana, Mozambique and Ghana, and can provide cover in a further 20 African countries.

The region is attracting global attention due to its “burgeoning population and strong economic growth”, the partners say in joint statement.

“The integration of Hollard’s strong network within the region with Tokio Marine & Nichido’s expertise in international business will both strengthen the organisations’ presence in the region and provide higher levels of customer service.”

Tokio Marine’s COO for Australia Claudio Saita told insuranceNEWS.com.au there is a growing affinity between the two companies at group level.

Hollard Australia CEO Richard Enthoven says the company is delighted to build on its already strong relationship with Tokio Marine. “The two organisations share a similar set of values and we look forward to expanding our engagement in the future.”