Lesotho - LNIG, Hollard team up

(MENAFN- The Post)

MASERU – THE Lesotho National Insurance Group (LNIG) has now teamed up with a global insurance giant Hollard Insurance.
The company has also rebranded and will from now on be known as LNIG Hollard.

The launch was held in Maseru yesterday.
LNIG managing director, Mpho Vumbukani, said Hollard was now the majority shareholder in LNIG and is steering the ship alongside the government of Lesotho and Molepe investment Holdings.
He said Hollard's relationship with the LNIG is simply symbiotic in which expertise is exchanged, including having access to a vast menu of products and technical assistance from a solid network of professionals.

Vumbukani said this relationship was established four years ago when Regent exited the insurance market and Hollard acquired their stake. It later partnered with LNIG to fulfill its investment opportunity in Lesotho.
“The partnership enhances the profile of LNIG which will now be able to leverage upon the international reputation of Hollard, bringing with it added access to varied innovative products as well as technology,” Vumbukani said.

Vumbukani said in 2003 the St Paul Group of Companies exited from some global markets including Lesotho.
He said their shares and those of African Life were bought by Regent from South Africa.
This was at a time when the Government of Lesotho was implementing its privatisation programme.

Vumbukani said on this journey of over 40 years, LNIG has gained growth, resilience, and most importantly unshakable support.
He said it has embraced systems and processes that enable it to deliver its services efficiently.

“It has also steadily expanded its product range over the years, becoming more conscious of its responsibility towards all its stakeholders including its employees, customers, and the community at large,” he said.
Vumbukani said LNIG provided insurance to the emerging economy of Lesotho“when no one else was around to do so”.

He said a living example of this is that most of the government parastatals that now exist were developed and grew on the back of insurance provided by this company.
He said businesses of all sizes from sole proprietorships to industrial conglomerates and mining houses have all benefitted.

Secondly, he said the company contributes to the government coffers through taxation and most directly by payment of dividends.
Vumbukani said the company remains the leading insurer in terms of short-term insurance and its life business is working very hard to improve its position.

“The LNIG Hollard, as we now call it, is a hub of professionalism, innovation and is taking visible steps to be a prominent member of the digital age,” he said.
“The LNIG Hollard is currently a force to be reckoned with in the insurance industry of Lesotho.”

Head of Brand at LNIG Hollard, Liepollo Tsekoa, said this co-branding which manifests itself as the LNIG Blue being sprinkled with the Hollard Purple talks to the two great companies leveraging off each other's strengths to provide the best insurance solutions for Basotho.
She said the LNIG as a heritage brand in Lesotho has provided insurance services for over 40 years, has acquired deep insurance expertise, and understanding of the local market.

“Blending this experience with Hollard's dynamic insurance expertise has provided a solid platform for our Basotho nation to benefit more from,” she said.
She said the company is clear on its vision that LNIG Hollard intends to be the leading and favorite insurer in Lesotho.

Refiloe Mpobole

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