Published: 15 August 2013

The Competition and Tariffs Commission has approved the acquisition of Aon Holdings Limited majority stake by Masawara Mauritius Limited.

Masawara is a diversified investment company with direct interest in telecommunications, hospitality, agrochemicals and insurance, mainly in Zimbabwe.

The insurance broker and employee benefits firm, Aon Zimbabwe, embarked on a restructuring exercise after the Insurance and Pension Commission, the country's insurance regulator, raised concern over the company's ownership structure.

A source said the company bought 69.75% from Minerva Holdings, Aon's parent company. Minerva is a unit of Minet Kingdom which is controlled 100% by AON Plc United Kingdom.

Minerva is a risk management insurance and insurance brokerage firm.
- newsday

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