Africa’s Biggest Insurer Exits U.K. Businesses to Sharpen Focus
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Sanlam Ltd. is planning to exit several of its U.K.-based operations, including its life insurance and wealth management units, in order to free up capital for its expansion in various African markets and in India.
Africa’s largest insurer is buying a further stake in Morocco-based Saham Assurance SA for about 2 billion rand ($141 million) to boost its presence on the continent, where it already operates in over 30 countries.