Africa's largest insurer Sanlam said on Friday it has taken controlling stakes in the insurance business of its joint venture in India. The R2 billion in acquisitions comes as the company eyes the massive potential of the world's most populous nation and looks to diversify away from its home continent.
Sanlam's venture with Shriram dates back to 2005 and it has built up its stake over the years, with that market's contribution to its net result from financial services also steadily growing, to 17% as of 2023.South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism.
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Source: Fin24 - 🏆 21. / 63 Read more »