News Formal

MultiChoice selling huge chunk of insurance business to Sanlam in R2.7-billion deal

  • 📰 mybroadband
  • ⏱ Reading Time:
  • 31 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 33%
  • Publisher: 67%

Headline News

Multichoice,Sanlam,Banking

Sanlam is set to acquire a majority stake of MultiChoice’s insurance business.

Sanlam and MultiChoice announced that they have entered into an agreement for the financial services provider to acquire 60% of MultiChoice’s insurance business, NMS Insurance Services .

The earn-out is contingent on the amount of gross written premium generated by NMSIS for the financial year ending 31 December 2026. “Through this commercial arrangement, Sanlam and its affiliates have the opportunity to cross-sell financial services products to MultiChoice’s extensive and engaged subscriber base of 21 million households across 50 countries in Africa,” MultiChoice stated.

“It not only allows us to increase the value we provide to our subscribers, but also enables us to leverage Sanlam’s expertise to drive growth and innovation in our insurance offerings across the continent.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 11. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

Sanlam to buy 60% of DStv insurance businessSanlam will buy a 60% stake in MultiChoice South Africa's insurance business for an upfront cash amount of R1.2-billion.
Source: TechCentral - 🏆 8. / 71 Read more »