Thursday, August 16, 2012


Sources say One of South Africa’s largest financial services provider, Sanlam, is eyeing a substantial a stake of up to 49% in P&O insurance business.
Sanlam is exploring a price tag of over two times the net asset of the company and is targeting to submit documentation for BNM’s approval in Sept 2012.
Should Sanlam successfully acquire a stake in P&O’s insurance bsiness, it would be its first foray into the region. As for P&O, it is not the first time the local insurer has caught the eye of foreign players.
P&O’s insurance business will give investors direct access to the motorcycle business, where the insurer has the largest market share.

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