Financial services group Sanlam says volatility in SA investments market and the weakening rand presents challenges to its business.The group on Thursday, in an operational update for the quarter ended March, said its life insurance business in the retail mass segment was under pressure and consumers had to contend with the weak economic environment.“Group net client cash inflows declined to R7.
The biggest deal in which it has been involved in recent times was the tie-up of its local investment management business with Absa’s to create a black-owned asset manager with R1-trillion in assets.It has also done a slew of deals with retirement fund administrator Alexforbes, acquired a controlling stake in AfroCentric to move into the health insurance market, and bought out the remaining shares in BrightRock insurance.
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