Hollard Mozambique is moving ahead with plans to merge its operations with Global Alliance Seguros, a deal that will create the country’s largest insurance company with a market share of more than 30%.

The companies have scheduled extraordinary shareholder meetings for Aug. 10 to approve the integration of Global Alliance Seguros, Hollard Moçambique Companhia de Seguros and Hollard Vida into a single business.

The merger follows Hollard Mozambique’s acquisition of Global Alliance, which was completed on April 1, 2025. At the time, the insurer said it expected the integration to take up to 18 months before all operations are brought under the Hollard brand.

The deal is one of the largest in Mozambique’s insurance industry in recent years and is expected to strengthen Hollard’s position in both the life and non-life insurance markets.

Company executives say the focus is on expanding services while maintaining continuity for customers throughout the transition.

Integration moves into next phase

Hollard Mozambique Chief Executive Officer Henri Mittermayer said the company is now entering the next stage of the integration process after completing the acquisition earlier this year.

“We will work to fully integrate the operations under one management team while ensuring continuity, service quality and a better experience for our customers,” Mittermayer said when announcing the acquisition.

He said Hollard held about 21% of Mozambique’s insurance market before buying Global Alliance and expects the combined business to control between 30% and 35% once the merger is completed.

The company declined to disclose the value of the acquisition, saying only that it reflects the shareholders’ long-term commitment to Mozambique.

Jobs and customer service remain key focus

The company acknowledged that combining two large insurers could affect some employees, although executives said they will try to keep any changes to a minimum.

Human Resources Director Imran Esmael said workforce reductions are common in transactions of this size, but the company will carefully review staffing needs before making any decisions.

“If we determine that no one needs to leave, then no one will leave,” he said.

Mittermayer said the acquisition is about more than adding customers. He said the combined company will be better positioned to introduce new insurance products, improve operating efficiency and strengthen customer service across the country.

Regulator cleared the transaction

Mozambique’s Competition Regulatory Authority approved the acquisition in October 2024 after concluding the deal was unlikely to substantially reduce competition in the country’s insurance market.

The regulator estimated the combined company would hold a 31.7% market share but said the insurance sector would remain competitive.

It also consulted the Insurance Supervision Institute of Mozambique before issuing its approval.

Hollard Mozambique, part of South Africa’s Hollard Insurance Group, is one of the country’s leading insurers, offering life and non-life insurance products.

Global Alliance Seguros has long ranked among Mozambique’s largest insurance companies, making the merger one of the most significant consolidations in the sector.