While Sanlam and Caerus Capital Group reached agreement in June 2015 for a stake acquisition by the former in the financial consulting firm, the South African group has decided to backtrack. It is no longer intent on investing beyond the 19.9% stake it detains today.
The new general manager of Sanlam UK has explained that he would rather focus on the so-called conventional activities, especially that in Great Britain, Sanlam has already four structures all specialized in financial management (Sanlam Wealth Planning, Sanlam Investments and Pensions, Sanlam FOUR and Sanlam Securities).
The group also detains minor stakes in the companies Cameron Hume and Nucleus. Meanwhile, Sanlam has obtained permit from Indian authorities for the acquisition of direct shares in the life and non life entities of the Indian insurer, Shriram Insurance Company. The company detains to-date a 26% stake in the holding Shriram Capital, parent company of both insurance companies.