Sanlam News

Largest African Insurer Sanlam Completes Acquisition of Morocco’s Saham Finances

Sanlam Ltd., Africa’s largest insurer by market value, said it fulfilled all the conditions for the $1.1 billion purchase of the shares it doesn’t already own in Morocco’s Saham Finances SA after regulators approved the deal. The Cape Town-firm’s biggest …

Sanlam Looks for More African Deals After $1.1B Investment in Morocco’s Saham

Fresh from sealing its biggest ever deal, Sanlam Ltd. is still scouring Africa for more acquisitions to extend its lead as the continent’s largest financial-services company outside of banking. The Cape Town-based insurer will spend $1.1 billion to take full …

Sanlam Says South African Political Turmoil to Dampen Domestic Business Outlook

Sanlam Ltd., the largest South African-based insurer, said prospects for its domestic business will remain muted for the rest of this year and into 2018 as political uncertainty knocks confidence and markets. Political and economic policy uncertainty is “not likely …

Kenyan Insurers Face New Capital Rules Which Could Lead to Market Shakeout

A push by Kenyan regulators to clean up the East African country’s insurance industry is poised to trigger stake sales or exits by underwriters unable to meet the new capital requirements, according to an industry group. Most companies missed a …

2 South African Insurers Bet $375 Million on West & North Africa Expansion

South African insurers Sanlam Ltd. and Santam Ltd. agreed to buy a 30 percent stake in Saham Finances SA of Morocco for $375 million to gain access to insurance markets in West and North Africa. The stake will be purchased …