Aon Malawi, an insurance broker has finally rebranded to Minet Malawi following the acquisition of Aon Plc’s operations across several sub-Saharan countries by Pan- African private equity film Capitaworks.
Minet Group has since launched its risk, reinsurance and human resources advisory operation, consolidating the firm’s market position in Malawi.
Announcing the launch of Minet in Malawi during a dinner in Blantyre, Minet Malawi Chief Executive Officer Delvin Khongono said the acquisition of Aon by Capital works will not only benefit the clients but also the company’s employees .
“We are extremely excited to be a member of the Minet Group. As Minet we will be in the best position to favorably service the growing market in Malawi by providing risk , reinsurance and related human resources advisory solutions with added agility and global best practice,” said Khongono.
Minet Group CEO Joe Onsando said Minet was poised to benefit from Africa’s growth and that the company would embrace new technology and innovation to expand its footprint in Africa.
“Our industry finally has its own Pan- African player with a diverse African footprint owned and led by Africans,” he said.
He added that “The time has come for our African team to take the business through a new growth trajectory. This is the beginning of yet another exciting chapter in our business. It is an affirmation of the tireless efforts they have put into building and growing the company over the past 70 years.”
In her remarks the Reserve Bank of Malawi Director of Pension and Insurance Supervision Chimwemwe Kachingwe said the acquisition of Aon by Minet Group will improve the services of the insurance broker in the country.
“ We welcome Minet Group in Malawi and it is our expectations that the coming of the group will improve the service and bridge the gap that is there in insurance sector in Malawi,” said Kachingwe.
The transaction spans across 10 countries and regulatory approvals have thus far obtained in Kenya, Lesotho, Malawi ,Namibia, Uganda and Zambia with the approvals for the remaining countries expected in the first quarter of 2018