Sanlam said the transaction to acquire Alexforbes’ risk and retail life businesses became effective on 31 March 2022. The deal was first announced in July 2021. Sanlam will pay R100m for the businesses, in two equal payments, 12 and 24 months from the effective date, subject to the achievement of agreed metrics. Sanlam said the acquisition would contribute to its South African growth strategy, by strengthening Sanlam Life’s position in the risk and retail life insurance markets, while diversifying the portfolio of risks.
