Sanlam seals Sh110b deal

Kennedy Muriithi,CEO Sanlam Investments (from left) Stephen Kamanda,CEO Sanlam Life,Ian Kirk,Group Chief Executive,Sanlam,Mugo Kibati,Group CEO Sanlam Kenya and George Kuria,CEO Sanlam General Insurance during the media rebranding launch of the Sanlam Kenya from Pan Africa Insurance Holdings at the Sarova Stanley Hotel. [Photo:Courtesy]

Sanlam seals Sh110b deal. South Africa’s biggest insurer, Sanlam, has sealed a Sh110 billion deal to acquire the remaining 53.37 per cent stake in Moroccan insurance firm Saham Finances after receiving regulatory approvals, it said yesterday. Saham Finances is Sanlam’s biggest acquisition yet, and expands its presence to 33 countries across Africa. The conclusion of the deal cements its presence in North Africa.

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