
Global Alliance Seguros
Diversified life and non-life insurance for Mozambique.
Date | Investors | Amount | Round |
---|---|---|---|
* | N/A | Acquisition | |
Total Funding | 000k |
Global Alliance Seguros S.A. is an insurance provider in Mozambique, offering a wide range of life and non-life insurance products for individuals and businesses. The company's services include coverage for work-related accidents, fire damage, goods in transit, as well as personal and property protection.
The company was originally founded in March 1993 as General Insurance Company of Mozambique (“CGSM”). In 2001, Robert Lewis acquired the company through Global Alliance Holdings, leading to a name change to Global Alliance CGSM, SARL in 2005 and finally to Global Alliance Seguros S.A. in 2008. The firm transitioned from a family-run business to a corporate structure in 2011 after being acquired by Barclays Africa Group Limited (now Absa Group Limited). As of April 2025, Global Alliance Seguros was fully acquired by Hollard Mozambique Insurance, becoming part of the Hollard group. This integration is expected to be completed over an 18-month period, which will involve combining operations, teams, and processes under the Hollard brand.
The insurer operates in the Mozambican market, where it held a market share of approximately 11% in 2022. Its business model is centered on corporate clients, which account for about 84% of its gross written premiums, distributed primarily through a network of brokers. The recent acquisition by Hollard aims to enhance technical and financial capacity, streamline processes, and introduce new, tailored insurance solutions for the Mozambican market.
Keywords: non-life insurance, life insurance, corporate insurance, personal insurance, Mozambique insurance, property coverage, accident insurance, transit insurance, bancassurance, risk management