Sanlam gets the green light for the takeover of Pan African Insurance

The South African insurer Sanlam has been given the green light by the Kenyan authorities to acquire additional shares in Pan African Insurance. Already in possession of 50% of the insurer, Sanlam announced last May its intention to control a minimum 60% of the capital.
In 2012, the local market has undergone significant changes with the withdrawal of Pan Africa Insurance from the group APA Insurance, the acquisition of 60% of the insurer AAR by Dutch pension funds and the acquisition of 25% of Apollo Investment by the specialist in microinsurance Leapfrog. Liberty Holding, Sanlam’s competitor in South Africa, is also trying to grab a share of the Kenyan market through CFC Life.