King Price completes the acquisition of Stangen

The acquisition of the life insurance company Stangen by King Price, a South African non-life insurer, has been approved by the supervisory authorities.

The transaction amounted to 140 million ZAR (8.8 million USD). This takeover has enabled King Price to enter the South African life insurance market. In 2019, Stangen reported a deficit of 49 million ZAR (3.4 million) against a net profit of 30.5 million ZAR (2.1 million USD) by the end of December 2018.