Hollard Announces Partnership with Tokio Marine Group – 7 September 2018

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Hollard Insurance Group Announces a ground-breaking partnership with Tokio Marine Group.

Recently The Hollard Insurance Group announced a ground-breaking partnership with the Tokio Marine Group, the largest insurance group in Japan, and among the largest in the world. Tokio Marine will acquire a 22.5% stake in Hollard South Africa and Hollard International for approximately R5 billion, fulfilling Hollard’s long-held goal of partnering with a major international insurance group. 

The Tokio Marine Group was established in 1879 and incorporates Japan’s oldest Insurance company, Tokio Marine Insurance. The Group employs almost 39000 people in 38 countries and, reported an income of just over 5 232 billion Yen (R725 billion at today’s exchange rate).

This is a game-changer for Hollard, as not only does it represent a significant vote of confidence in Hollard, but also in South Africa and in the African continent as a whole. The transaction is aligned with President Cyril Ramaphosa’s call for $100 billion to be invested in SA over the next five years, and is an endorsement of the well-regulated South African financial services sector.  The access to capital this partnership provides will help to accelerate our ambitious plans in Africa and Asia.

AWCA investment Holdings would like to congratulate Hollard this big honor.

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Precious Sibiya CA (SA) (Non-Executive Director)

Precious Sibiya CA (SA) Precious is an accomplished executive and non-executive director with many years of experience in various leadership roles. She has more than 20 years corporate experience in finance, risk management, financial management, supply chain management and compliance. She is a seasoned professional who has worked in various roles across diverse industry sectors (viz logistics, energy, financial services, insurance, consulting) within private and public sectors. Her roles range from Internal auditor, Risk manager, General Manager Finance to Internal Audit Director.

She has served and continues to serve on various boards and audit committees in the roles of Board member, chairman, deputy chairman and committee member.

Her current boards and committee engagements are Ithala Development Finance Corporation, AIH, Ethekwini Municipality, National Credit Regulator,  Ekurhuleni Municipality, Financial Intelligence Centre and Reef Tankers (Pty) Ltd.

She has previously served on the boards and/or audit committees of Sentech, SkX, Parliament of South Africa, Gauteng Provincial Government, National Gambling Board, AWCA, Union Life, NEHAWU Investment Holdings (NIH), South African Reserve Bank Captive Insurance Company Limited (SARBCIC) , City of Johannesburg, Eskom Finance Company and Eskom subsidiaries in Africa (Umeme Ltd in Uganda, Elgas in Mozambique), amongst others.

Precious is a member of the South African Institute of Chartered Accountants and African Women Chartered Accountants. She completed her articles at Deloitte in Durban where she qualified as a Chartered Accountant. She is also a registered business rescue practitioner.

She is passionate about community development especially programmes involving children and rural women.