Hollard Seguros, a subsidiary of the Hollard insurance group, will acquire the customer portfolio of ICE Seguros, S.A..

According to the statement, the action is still subject to approval by the Regulatory Authority and the Insurance Supervision Institute of Mozambique.

In practice, ICE Seguros will transfer its business to Hollard Seguros. The move aims to create a preferred insurer that can operate on a larger scale and compete effectively in Mozambique's insurance market.

Henri Mittermayer, CEO of Hollard Seguros, said that "the transaction will increase our presence in Mozambique as well as further enhance our commitment to the Mozambican insurance market." He went on to say that "we have been in the domestic market for over twenty years and firmly believe that the move will be beneficial to our customers, partners and shareholders of Hollard Seguros".3

 Robert Lewis, CEO of ICE Insurance, sees customer safety issues and risk management relationships as sends of utmost importance.

"The partnership with Hollard Insurance guarantees security. I am very excited about the Hollard Insurance approach and know that our customers will be in great hands," he said.

 "Robert created a significant deal in a relatively short period of time and we are grateful for all his support during the negotiations. In addition to being part of the process, he has made himself available to support the entire Hollard Insurance operation in the medium term. And he will always play a role in the relationship with customers and the international insurance market," advanced the CEO of Hollard Insurance.

Mittermayer believes that the transaction represents a vote of confidence in the Mozambican insurance market and will promote growth for Hollard Seguros. However, advances the head of Hollard Seguros, "we are conscious not to let this transaction distract us from our focus on our customers and our insurance brokerage partners.