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.
Currently, the maximum tariff for executor fees is 3.5% on the gross value of the estate assets, including on the gross value of a community of property estate , and 6% of all incomes such as rentals, interest and dividends, which the executor collects on behalf of the estate from the date of the testator’s death to the date of final distribution of the estate.