FACTBOX-Recent Insurance Deals in Sub-Saharan Africa

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The Following are some purchases or expansion plans by South African and European insurers in sub-Saharan Africa announced in the past three months [See article above]

Nov 28 – French insurer AXA buys control of Nigeria’s fourth-largest insurer, Mansard Insurance

Nov 27 – Launch of One Re, London-based but Africa-focused reinsurance company

Nov 5 – Anglo-South African financial services group Old Mutual. reiterates expansion plans in sub-Saharan Africa, has spent 700 million rand ($63 million) of a 5 billion rand expansion program

Nov 5 – South African financial services advisory firm Alexander Forbes says it is considering potential buys in countries including Ghana and Tanzania

Oct 8 – Swiss Re buys minority stake in Kenya-based insurance group Apollo Investments

Oct 8 – South African insurer Liberty Holdings says it is in final stages of buying an asset manager in Ghana and is also looking to Ethiopia, Rwanda and Nigeria for potential deals

Oct 2 – South African insurer Sanlam acquires 40 percent stake in non-life unit of Ghana’s Enterprise Insurance Company, has nearly $300 million for expansion in Africa and India

Sept 9 – LeapFrog Investments launches its second African and Asian financial services fund. Investors in the $400 million fund include AXA, Switzerland’s Zurich Insurance and U.S. insurer AIG.

Sept – British insurer Prudential buys Kenyan life insurer Shield Assurance. This follows the acquisition of Express Life in Ghana, which completed earlier this year

(Compiled by Carolyn Cohn; editing by David Clarke)