Sanlam completes Assupol deal, boosts lead as Africa's largest insurer
Sanlam's acquisition of Assupol bolsters its footprint in South Africa and Africa, cementing its position as a dominant insurance player.
Sanlam's acquisition of Assupol bolsters its footprint in South Africa and Africa, cementing its position as a dominant insurance player.
The move is part of a broader strategy to capitalize on growth opportunities in one of the world’s fastest-growing major economies.
Sanlam, partly owned by Patrice Motsepe, reports a $636-million profit for the first half of 2024, fueled by strong performance across its diverse business segments.
Sanlam Life, a subsidiary of Africa's leading insurer Sanlam, has announced plans to acquire a 25-percent stake in ARC Financial Services Holdings.
Hanratty extends his term as Sanlam CEO until 2027, continuing to drive the company’s global expansion and strategic growth with significant contributions to financial performance.
Sanlam’s interest in SGIC is set to rise from 40 percent to 51 percent, and in SLIC from 42 percent to 54 percent.
Sanlam CEO Paul Hanratty, a notable figure in South Africa’s business landscape, lauded the company’s robust delivery in the face of extraordinary challenges during the past fiscal year.
Motsepe, South Africa’s richest Black man with a net worth of $2.7 billion, holds a 7.8-percent stake in insurance giant, Sanlam.
India’s economy is growing nearly five times faster than South Africa’s.
With a wealth of experience and strategic leadership, Hanratty has propelled Sanlam to new heights.
As one of South Africa’s most affluent executives, Hanratty’s stake in Sanlam has surged by more than $3 million in just 52 days.
The surge in Hanratty’s stake can be attributed to the remarkable performance of Sanlam’s shares since the start of the year.
Diagou and his family own 61 percent of NSIA Group.