Sanlam Announces The Acquisition Of Alexander Forbes Life
Sanlam Announces The Acquisition Of Alexander Forbes Life. Sanlam has announced that it has acquired Alexander Forbes Life. The total cash consideration is R100 million, 50% of which will be deferred and paid in two equal payments, to be made 12 and 24 months respectively from the effective date.
The transaction will contribute towards the realisation of Sanlam’s South African growth strategy by strengthening Sanlam Life’s position in the group risk and retail life insurance markets. The Transaction is expected to deliver capital synergies by integrating the AF Life Book into the Sanlam Life licence and diversifying the portfolio of risks. Sanlam is a purpose-led organisation, with all its efforts centred on helping its clients live with confidence. The company promotes financial inclusion, transformation and empowerment through its broad product and financial advice offering, inclusive culture and partnership approach. The company has a proven track record of delivering superior value to clients, employees, shareholders and broader society.
Sanlam believes that everyone deserves an equal chance of living a better life and reaching the financial goals that matter to them. To achieve this, it needs to do more than provide access to financial institutions or credit. Instead, it is about ensuring that everyone has access to well-functioning financial infrastructure and know-how to preserve, manage and grow their wealth. Financial confidence is at the intersection of financial inclusion and financial security. It drives a sense of empowerment that unlocks possibility and motivates people to reach their full potential.
Alexander Forbes Life Ltd. provides insurance agent and broker services for a range of insurance types. The Company markets its insurance services to individuals, families, and businesses throughout South Africa.
