Alexander Forbes ready to ditch insurance arm | IOL Business Report

JOHANNESBURG – Alexander Forbes yesterday confirmed that it had put a “for sale sign” on its insurance businesses with insiders saying Sanlam is in pole position to acquire the assets. The firm, which revealed its new strategy in an update to shareholders, said that its “advice-led and capital-light” model would see it selling its insurance businesses which comprise of Group Risk, Retail Life, and Short-term insurance.

The mooted sale of the insurance business marks a 360 degrees turnaround from the position the company took just over a year ago. This month Business Report said that Alexander Forbes was planning to sell its short-term insurance business to Sanlam’s subsidiary, Santam, for R1.5billion to R2billion.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

AYO, PIC and CIPC in courtroom showdown | IOL Business ReportIn two separate cases held at a joint sitting in front of Judge Cornelius van der Westhuizen, the CIPC faced off with the PIC, judgement on Monday.
Source: IOL - 🏆 46. / 51 Read more »

Google fined $1.7bn for search ad blocks in third EU sanction | IOL Business ReportGoogle was fined €1.49 billion (R24bn) on Wednesday for blocking rival online search advertisers.
Source: IOL - 🏆 46. / 51 Read more »

Surge in fuel prices hikes February's consumer inflation to 4.1% | IOL Business ReportSouth Africa’s consumer inflation inched up to 4.1 percent in February from 4 percent in the previous month on the back of a surge in fuel prices.
Source: IOL - 🏆 46. / 51 Read more »