Sanlam, new acquisition in Africa

The insurer Sanlam is negotiating the acquisition of 49% of Nico Holding’s non-life insurance operations in Uganda, Zambia, Tanzania and Malawi. The South African insurer is already in possession of 49 % of Nico Life Insurance, specializing in life insurance. Nico Holding is involved mainly in insurance, banking, retirement management, leasing and information systems. The group is estimated at about 425.6 million ZAR (43.5 million USD).