Hollard Group is a privately owned

insurance Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...

group based in

South Africa South Africa, officially the Republic of South Africa (RSA), is the southernmost country in Africa. It is bounded to the south by of coastline that stretch along the South Atlantic and Indian Oceans; to the north by the neighbouring coun ...

that operates under two insurance licences: short term and

life Life is a quality that distinguishes matter that has biological processes, such as signaling and self-sustaining processes, from that which does not, and is defined by the capacity for growth, reaction to stimuli, metabolism, energy ...

. The company was established in 1980 by Robert Enthoven, and the Enthoven family retains the majority share, locally through The Enthoven Family Trust (EFT) and internationally through Capricorn Ventures International (CVI).

History

Hollard was founded in 1980 by Robert Enthoven and his son Patrick Enthoven. In 1985, Patrick moved to California to work in the insurance business there. ''Etana Insurance'', launched in April 2008, was

's only insurer to exclusively insure businesses. It was co-owned by Hollard (49.9%) and Etana Holdings (50.1%). More than 40% of Etana's management team was black in keeping with the company's commitment to racial equality. It was re-acquired by Hollard in 2013, and formed a division called Hollard Broker Markets. The firm is known for the development of selling prepaid insurance, sold in cellphone-like ‘starter packs’ through retailers. It has been rated in the Top 10 in ''South African Best Company to Work For'' survey from 2002 to 2006 and was rated fifth in 2006; In 2007 to 2009 Hollard was rated in the Top 10 in ''South African Best Company to Work For'' survey’s Medium Category Winners.

Social impact insurance

Hollard and Dalberg created HUGinsure the world's first Social Impact Insurance entity. This was done in association with

Aon Aon or AON may refer to: * Aon (mythology), son of Poseidon in Greek mythology * ''Aon'' (moth), a genus of moths in the family Erebidae * Aon (trigraph), a Latin trigraph * "Aon", a composition by jazz pianist Harold Mabern, 1968 Business and ...

and the Lloyd’s market. It will create a specialized risk assessment entity that will measure and manage risks associated with the funding of social impact organizations. It will apply tested rating methodologies and risk management principles to facilitate the underwriting of social impact funding. HUGinsure’s service will help funders assess the credit worthiness of social projects and organizations so they can deploy capital with confidence, accelerating the timely flow of funds to social organizations and preventing disruptions in their operations and impact. HUGinsure expects to accelerate over $400 million towards global development efforts by 2018. HUGinsure was launched at the

Clinton Global Initiative The Clinton Foundation (founded in 2001 as the William J. Clinton Presidential Foundation, and renamed in 2013 as the Bill, Hillary & Chelsea Clinton Foundation) is a nonprofit organization under section 501(c)(3) of the U.S. tax code. It was es ...

in New York In September 2013. Social Impact Insurance is any insurance or insurance related product or service provided with the intention to generate measurable social and environmental impact together with a financial return. Social Impact Insurance can be applied in both emerging and developed markets, and target underwriting outcomes from below market to market norms, depending upon the circumstances and degree of social impact achieved. As with Social Impact Investing, Social Impact Insurance tends to have its roots in either social, development, or environmental issues. Social Impact Insurers actively look to provide risk mitigation products and services to socially relevant projects in a manner that enhances the probability of success whether by enhancing credit worthiness to attract investment and or to speed up or stabilise cash flows or protecting people processes and assets against the multitude of risks which may otherwise hamper success to the detriment of society. Impact Insurers are primarily distinguished by their intention to address social and environmental challenges through the provision of insurance coverage. For example, criteria to evaluate the positive social and/or environmental outcomes of investments or project that may benefit from insurance coverage are an integrated component of the underwriting processes. Social Impact Insurance can be in the form of insurance including Credit, Marine, Property Damage, Engineering and Construction, Liability, and Life Insurance.

Globalisation

The firm is the largest independent and privately owned insurer in South Africa and has operations and investments in

Namibia Namibia (, ), officially the Republic of Namibia, is a country in Southern Africa. Its western border is the Atlantic Ocean. It shares land borders with Zambia and Angola to the north, Botswana to the east and South Africa to the south and ea ...

Mozambique Mozambique (), officially the Republic of Mozambique ( pt, Moçambique or , ; ny, Mozambiki; sw, Msumbiji; ts, Muzambhiki), is a country located in southeastern Africa bordered by the Indian Ocean to the east, Tanzania to the north, Malawi ...

Botswana Botswana (, ), officially the Republic of Botswana ( tn, Lefatshe la Botswana, label= Setswana, ), is a landlocked country in Southern Africa. Botswana is topographically flat, with approximately 70 percent of its territory being the Kal ...

Australia Australia, officially the Commonwealth of Australia, is a sovereign country comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands. With an area of , Australia is the largest country by ...

India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area, the List of countries and dependencies by population, second-most populous ...

Pakistan Pakistan ( ur, ), officially the Islamic Republic of Pakistan ( ur, , label=none), is a country in South Asia. It is the world's fifth-most populous country, with a population of almost 243 million people, and has the world's second-lar ...

, China and the

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the European mainland, continental mainland. It comprises England, Scotlan ...

. In 2015 Hollard Investments invested 6 million in OpenAgent and in 2016 made a similar sized investment in Huddle Insurance.

References

External links

Official website
{{Witwatersrand companies Insurance companies of South Africa Life insurance companies Financial services companies established in 1980 Companies based in Johannesburg