Sanlam to acquire Assupol for $347m.

Sanlam, a South African financial services group, agreed to acquire Assupol, an insurance company, for $347m. “The proposed acquisition will allow us to strengthen our fortress South Africa strategy and signifies Sanlam’s commitment to further long-term investment in South Africa. It places Sanlam in a strong competitive position in the retail mass segment of the South African market, thereby embedding our commitment to South Africa. Given the envisaged synergies, we are confident it will deliver accretive value for all our stakeholders,” Paul Hanratty, Sanlam CEO.