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Jul 2021

Morocco: South African giant buys additional stake in Saham

Source: Middle East Insurance Review | Jun 2021

South Africa’s largest insurer, the Sanlam Group, has acquired a 22.8% stake in Saham Assurance for ZAR1.98bn ($141m).
 
On completion of the deal, Sanlam will increase its stake in the Moroccan insurer from 61.7% to 84.5%. The announcement of the acquisition is in line with Sanlam’s move to search for opportunities elsewhere in Africa because of slow growth in the South African market.
 
The transaction is subject to regulatory approval from the appropriate Moroccan and South African authorities. The deal is expected to be completed by the end of the third quarter of this year. M 
 
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