Creation of Shiram Life Insurance

A deal has been made between Sanlam and the Indian group Shiram for the creation of a new life insurance company in India, Shiram Life Insurance Company, which will start operating in August 2005. Sanlam will hold 26% of its capital whereas Shiram will get 74%.
Following the purchase of the British Merchant Investors Assurance in 2003, the partnership with the Shiram group will make it possible for the insurer Sanlam to go one big step higher towards international expansion.