Sanlam takes control of Lion Assurance
The South African Sanlam, is about to acquire the Ugandan insurance company Lion Assurance (LAC).
The transaction valued at 5.7 million USD must be approved by the Ugandan supervisory authorities (IRA-U).
Once, the approval of the IRA-U obtained, Sanlam intends to merge Lion Assurance and Sanlam General Insurance, a local subsidiary of the South African group.
This transaction will enable Sanlam to reinforce its position on the local market, of which it currently controls 2% only .
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