Magazine date:
Feb 2013 The South African insurer Sanlam has been given the green light by the Kenyan authorities to acquire additional shares in Pan African Insurance. Already in possession of 50% of the insurer, Sanlam announced last May its intention to control a minimum 60% of the capital.
In 2012, the local market has undergone significant changes with the withdrawal of Pan Africa Insurance from the group APA Insurance, the acquisition of 60% of the insurer AAR by Dutch pension funds and the acquisition of 25% of Apollo Investment by the specialist in microinsurance Leapfrog. Liberty Holding, Sanlam’s competitor in South Africa, is also trying to grab a share of the Kenyan market through CFC Life.