Possible South African Insurance Merger For Sanlam |
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March 20 - One of South Africa's insurance giants, Sanlam, is apparently looking to acquire Metropolitan Holdings in a potentially massive merger. When it comes to South African life insurance Metropolitan is one of the five biggest but the deal is by no means "assured" so to speak. Sanlam and Metropolitan are geographical neighbours and according to a report in the Sunday Times their business systems are so similar that it would be relatively simple for the two companies to integrate. The issue is the deal itself as Metropolitan's executives are wary of a merger. Another factor is the proposed social security initiative planned by the South African government, which would impact Metropolitan Life's bottom line and might make them a less enticing target for Sanlam to acquire. Metropolitan is an innovator in the insurance industry with a focus on lower income groups and a recent move into other African markets like Nigeria and Ghana. While insurance giants like Liberty Life have their eyes on high-end prizes like Europe and Australia as well as high net worth clients it is refreshing to see this Afrocentric approach from Metropolitan, and it comes as little surprise to see Sanlam circling them with interest. Related Insurance Articles: * South African Home Insurance Tips * Car Insurance Coverage For Repairs - The Facts * Less Than Half Of South Africa Has Car Insurance * Insurance Risks With Used Cars In South Africa * Dial Direct Offers Six Month Premium Waiver Cover * Liberty Group Reports Good Results, Shares Rise * Santam Wins Industry Award For Low Cost Insurance * When Car And Home Insurance Policies Do Not Pay Out 
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| 3/14/2010 7:06:48 AM | |||||||||||||||||||||
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