Hollard Life Assurance Zambia Limited has completed the acquisition of Absa Life Zambia Limited.
This transaction marks a full transfer of ownership and operations from Absa Group to Hollard Life, significantly altering the competitive landscape of the local life insurance industry.
Speaking during a media briefing, Hollard Zambia Group Chief Executive Officer (CEO) Paul Nkhoma described the transaction as transformative rather than transactional.
“This step transcends a routine business deal,” said Mr. Nkhoma.
Mr. Nkhoma noted that the combined entity will operate under a unified leadership team focused on operational excellence and customer satisfaction.
He adds that, the integration will unlock efficiencies and expand Hollard’s footprint across Zambia, helping to deliver tailored insurance solutions to a broader customer base.
And Pensions and Insurance Authority (PIA) Deputy Registrar, Brian Manchishi, emphasized the regulator’s satisfaction with the transaction’s compliance.
Dr. Manchishi explained that the deal reflects resilience and adaptability within Zambia’s insurance sector.
He added that combining expertise, resources, and innovation is critical in responding to the evolving needs of policyholders and supporting the industry’s long-term stability.
By Christabel Kamunu
