Sanlam Life & Pensions UK divests its business
Sanlam has sold Life & Pensions UK activities to Chesnara, a British insurance company. The transaction amounts to 39 million GBP (54 million USD).
This operation is part of the South African insurer's strategy aimed at simplifying its operations in the United Kingdom and reallocating capital to Africa and other emerging markets.
The sale, which should be finalized in Q1 2022, is yet to be approved by the competent authorities.