Absa Life Zambia Acquisition

Hollard Life Zambia has fully acquired Absa Life Zambia, incorporating it into our business. This strategic acquisition consolidated our presence in Zambia’s insurance market, combining the strengths of both insurers, and demonstrates our commitment to investment and growth in Zambia.

The acquisition was officially completed in June 2025, after obtaining all necessary regulatory approvals from the relevant authorities in Zambia.

This acquisition is a strategic step that:

• Expands our service capacity in the Zambia market
• Strengthens our range of products and services
• Allows us to leverage the knowledge and experience of both companies for the benefit of our customers

There is no change to your policy. All terms, conditions, coverages, and benefits remain exactly as they are. Your existing contracts with Hollard continue to be valid and in effect without any modification.

There is no change to your policy. All terms, conditions, coverages, and benefits remain exactly as they are. Your existing contracts with Absa Life Zambia continue to be valid and in effect without any changes.

Yes. Your relationship with your broker remains unchanged. You can continue to contact and be served by the same broker as always.

No. All service channels remain the same for the time being. This means you can use the same contact channels and brokers of service providers for the time being. Any further changes will be communicated in a timely manner.

No. The acquisition has no impact on premiums for existing policies. Any future revisions will follow normal renewal procedures, independent of this acquisition.

The claims management process remains unchanged. Continue to report and track your claims exactly as you have always done, through the same channels and following the same procedures.

In the medium and long term, we anticipate:

• Greater technical and financial capacity
• Optimised and more efficient processes
• Possibility of new solutions tailored to your needs

We are committed to maintaining transparent and timely communication through:

• Email and/or SMS to your registered contacts
• Information via your broker
• Updates on our official communication channels (website and social media)
• Through correspondence, when necessary

• Contact your regular broker
• Email us: enquiries@hollardlifezam.com
• Visit any Hollard Life Zambia branch
• Visit our website: www.hollard.co.zm/life

For questions related to your specific policy, continue to contact your broker or your point of contact at Hollard through the usual channels. We are fully available to provide you with all necessary information and assistance.

Hollard Life Zambia is part of the Hollard Group, with access to a wide selection of international insurance partners, reinsurance partners and underwriters. Hollard Life Zambia has 10 years of experience, understanding local conditions and building relationships across Zambia.

The acquisition of Absa Life Zambia aligns with our strategic vision to strengthen our market presence and enhance our service offerings. We see substantial growth opportunities by combining our strengths, which will enable us to better serve our customers and drive innovation within the insurance sector.

Yes. Hollard Life Zambia is pleased to announce the completion of its acquisition of Absa Life Zambia. This is a full acquisition, not a merger, meaning Absa Life Zambia has become part of Hollard Life Zambia. The transaction was finalised after receiving all necessary in-country regulatory approvals from both the Competition Regulatory Authority (CCPC) and the Pensions and Insurance Authority (PIA), with no opposition raised and all legal requirements being fully satisfied.

Hollard International is strategically expanding its footprint across Southern Africa, solidifying its position as a leading pan-African insurance group. This acquisition allows Hollard Life Zambia to serve a wider client base and offer its innovative insurance solutions to new market segments.

Our direction, our passion, is to secure the Zambian market and to create better futures for more people. We are in this market to stay, and we do everything we can to improve our capacity, improve our strategy, and contribute to growth for the benefit of Zambians.

Our employees at Hollard Life Zambia are our greatest asset, and we are committed to preserving jobs and retaining skills. Our goal is to create a unified team that leverages the expertise of both companies. We will ensure clear communication and support throughout the transition, emerging stronger and more unified.

While both companies will initially maintain their current operations and names, we will ultimately continue under the Hollard brand, building on our established reputation in the Zambian market.

With the aim to make the transitionary period as seamless as possible, both for our internal teams, customers and partners, we have structured a comprehensive timeline spanning 6–12 months to achieve that purpose. A newly appointed executive committee will oversee the transition, prioritising transitional, business continuity and operational efficiency.

Customers have been updated through multiple communication channels and will continue to be supported through brokers and distribution partners.

By consolidating our balance sheet and increasing our underwriting capacity, the combined company will be better equipped to retain more risk and promote more local underwriting in Zambia. Our customers will enjoy our products and services, improved customer service, and access to a broader network of resources.

We expect a harmonisation of practices across both companies over time.

Hollard’s premiums are based on the risk covered. We are committed to delivering fair value and educating customers on the benefits of insurance.

We are committed to ethical business practices and regulatory compliance. Our goal is to offer customers the best value without distorting market dynamics.

This acquisition strengthens our market position and contributes to long-term, sustainable growth.

Hollard is keeping the transaction value confidential to respect all parties involved.

The acquisition represents a significant investment and is expected to yield long-term financial benefits, driving revenue growth and profitability.