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Mar 2016 South Africa’s fourth insurer, Liberty Holdings, has acquired a 51% stake in the capital of the Ugandan non life insurance company East African Underwriters Ltd (EAUL). EAUL is detained by local conglomerate Madhavani Group.
This partial takeover has enhanced the presence of the South African insurer in East Africa where it already possesses establishments in Tanzania and in Kenya. Furthermore, the group has just been granted license for the marketing of life and health insurance plans in Lesotho. Outside South Africa, Liberty Holdings operates in 15 other markets on the continent.