Financial services group Alexforbes has acquired a majority stake in local group risk insurance administration services company TSA Administration for an undisclosed amount.
TSA has over 25 years of experience in SA with more than 120,000 insured members and over 2,000 institutional clients. “The transaction represents a natural and seamless alignment between the two companies, as we share an independence from product providers, a dedication to enhancing customer experience and the appetite to partner with intermediaries,” Alexforbes said in a statement on Friday about the deal, which is expected to become effective before the end of June.
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