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IVM Intersurer, which partially controls South African Hollard Insurance, has acquired a majority stake in the capital of Ghanaian insurer Metropolitan Insurance Company.
IVM Intersurer now owns 51% of Met Insurance, the fourth insurer in the market in terms of market shares.
This move comes in the context of the long list of investments undertaken by South African companies operating in Ghana's insurance industry.
According to Hollard, the experience gained in Ghana should be the basis for development of a subsidiary in Nigeria.
Hollard is now targeting markets in West Africa where it has previously had no activity.
