Old Mutual has acquired 100% of the shares of Genric Insurance Company, a South African non-life insurance company.
The deal will help Old Mutual diversify its products and improve its customer service.
The transaction is still pending approval by the relevant authorities. The acquisition price has not been disclosed.
Read also | Insurance M&A: main deals concluded in 2021 and early 2022 [4]
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[3] https://www.atlas-mag.net/en/issue/atlas-magazine-n-193-july-2022
[4] https://www.atlas-mag.net/en/article/insurance-ma-main-deals-concluded-in-2021-and-early-2022