Magazine date:
Jan 2018 South African First Mutual Holdings (FML) has obtained green light from supervisory authority for the acquisition of a 50.89% stake in the capital of Zimbabwean insurer NicozDiamond, a percentage previously detained by National Social Security Authority (NSSA). Following this transaction, FML shareholding in NicozDiamond will rise from 30.03% to 80.92%.
Apart from this deal, FML is intent on merging the newly-acquired entity with its subsidiary Tristar Insurance which it detains at 100%.
More news:
- The insurance industry in Zimbabwe [4]