Sanlam willing to invest 52 million USD in an Indian insurer

The South African company Sanlam intends to inject more than 52 million USD in the insurance subsidiary of the Indian group Shriram in order to increase its stake to 49% by the end of the year.

Sanlam has a war chest worth 3.3 billion ZAR (314 million USD), enabling it to increase its investments in insurance subsidiaries held partly in Africa and India. The company is also prospecting the Ghanaian and Kenyan markets for potential acquisitions.

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