Type Privately owned Website www.hollard.co.za Number of employees 2,275 Headquarters Johannesburg | Industry Insurance CEO Nic Kohler (Jul 2007–) Founded 1980 | |
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Key people CEO: Pending
Chairman: Adrian Enthoven
Owner: Dick Enthoven Parent organization The Hollard Insurance Company Ltd Profiles | ||
Hollard Group is a privately owned insurance group based in South Africa that operates under two insurance licences: short term and life. 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).
Contents
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.
The company
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. The company is located at Villa Arcadia, 22 Oxford Road in Parktown.
Social impact insurance
Hollard and Dalberg created HUGinsure the world's first Social Impact Insurance entity. This was done in association with Aon 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 creditworthiness 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 in New York In September 2013.
Definition
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 looks 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, Mozambique, Botswana, Australia, India, Pakistan, China and the United Kingdom. In 2015 Hollard Investments invested 6 million in OpenAgent