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South African insurance giant, Hollard Insurance has now completely taken over Ghanaian insurance company, MET Insurance.
MET Insurance company has finally assumed the name Hollard Insurance after a takeover process that has been in the offing for some years now.
In a soiree held Tuesday night to make the special announcement, management of MET Insurance expressed delight at the major step taken by the two companies.
The two companies are no strangers to each other. Before the takeover, MET and Hollard collaborated in a Joint Venture that led to the development and distribution of Bancassurance products through Barclays Bank Ghana.
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The occasion was graced by the Board of Directors of Hollard Ghana, the Commissioner of the National Insurance Commission, Lydia Bawa, Senior Management of Hollard International, the South African High Commissioner to Ghana, as well as senior executives of corporate Ghana.
Also present for the unveiling was ex-CEO of Hollard Ghana Kwame Gazo Agbenyadzie, in whose tenure talks of a partnership commenced.
As a result of the Barclays venture, MET, IVM and Hollard have been in discussions for some time regarding the formalisation of a relationship beneficial to all concerned.
MET Insurance, in their search for a worthy partner, wanted a shareholder that offers both the skills and expertise to allow the company flourish without diluting its existing corporate culture and reputation in the market.
CEO of Hollard Ghana, Linda Oduro emphasized the company's delight in undertaking the takeover which she describes as a "favourable partnership" not only for the experience Hollard brings to the market.
According to her, with Hollard in the picture now, " there is increased capital to take on larger risks"