OLEA, a pan-African insurance broker, has announced it has reached an agreement to acquire to Marsh Uganda and Marsh Botswana, subject to approval by local authorities in both countries. The announcement follows the two companies’ successful collaboration over the last five years and further enhances OLEA’s footprint in the African market.
The Paris-based Olea Insurance Solutions entered the East African market, with the purchase of a 40 percent stake in Kenya’s Koolridge Insurance Brokers in 2019. At the time of the acquisition, the company identified Nairobi as a significant launchpad into other East African markets, notably in Uganda, Rwanda and Tanzania where the company already had a robust commercial presence.
(TOP: Vincent de Charnacé – left – the CEO East and Southern Africa for OLEA Insurance Solutions, and Paul Muhame – right – the head of OLEA Uganda).
The acquisition of Marsh Botswana and merger of Marsh Uganda with OLEA’s existing Uganda operation marks a significant milestone in OLEA’s growth strategy and underlines its commitment to delivering exceptional service and tailored insurance solutions to clients across the continent.
“We are excited to welcome the talented teams from Marsh Uganda and Marsh Botswana into the OLEA family,” said Olivier Canuel, OLEA Group CEO. “This acquisition not only enhances our presence in Africa but will strengthen our service offerings and expand our capabilities. OLEA will continue to provide comprehensive risk management solutions to meet the unique needs of businesses in Uganda and Botswana – two strategic and dynamic markets in Africa. OLEA will invest in local talent and resources to ensure a seamless transition and continued excellence in service delivery,” said Vincent de Charnacé, OLEA CEO East & Southern Africa.
Guy Royston, CEO, Africa Regional Operations, Marsh McLennan said: “Marsh Africa has enjoyed a strong and collaborative working relationship with OLEA. And subject to regulatory approval, I am pleased that they will be the new custodians of our offices in Botswana and Uganda. As the leading insurance broker in Africa, Marsh remains committed to the region and will continue to deliver exceptional value and innovative solutions to help our clients manage the risks they face.”
OLEA is a unique Pan African insurance broker with an extensive footprint (25 territories) on the African continent operating in North, West, Central, East and Southern Africa. Their clients include individuals, businesses and specialty industries in the field of reinsurance and placement, companies investing in Africa and international brokers without a presence on the African continent.
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