Sanlam grows new business by double digits after boost from Morocco

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The insurer says this helped offset pressure on SA’s middle-income consumers as the local market struggles

Insurer Sanlam said on Thursday strong growth in some of its African operations helped offset economic pressure on SA’s middle-income consumers in its year to end-December, when it managed double-digit growth in new business volumes.

The group’s push into the rest of Africa was given a boost in 2018 when it bought Moroccan insurance firm Saham Finances.

 

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