Hollard Group to acquire the general insurance unit of Commonwealth Bank of Australia for $468m.

Hollard Group, South Africa’s biggest privately-owned insure agreed to acquire the general insurance unit of Commonwealth Bank of Australia, an Australian multinational bank, for $468m. "The transaction is consistent with CBA’s strategy to deliver differentiated customer propositions and the best integrated digital experiences. CBA and Hollard will coinvest in innovative, market-leading products and services that anticipate and meet the changing needs of our customers," Matt Comyn, CBA CEO.