Business Maverick: Sanlam brings two innovative companies into its stable for R1.1bn

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How do you ensure your legacy company keeps up with innovation? Well, when you have discretionary capital of R6.6-billion, as in the case of Sanlam (as at end June 2022), you simply buy two innovative, entrepreneurial companies.

The big blue life insurer, Sanlam, significantly boosted its footprint last week with two acquisitions for a combined R1.1-billion. The first transaction sees Sanlam increasing its 62% shareholding in BrightRock to 100%. BrightRock will continue to operate as a separate entity under its own brand and its distinct needs-matched offering. The entrepreneurial management team who founded the company will remain with the business.

Schalk Malan, chief executive of BrightRock, says there has been great synergy since Sanlam joined the BrightRock board in 2018 as a majority shareholder. “Sanlam has been very supportive of our management team to date. A big part of the way forward will be to continue with initiatives such as our rugby sponsorships, the BrightRock change agents’ stories on our website and our path of product innovation.

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