Sanlam - Uganda Multimedia News & Information https://www.weinformers.com Politics, Health, Sceince, Business, Agriculture, Culture, Tourism, Women, Men, Oil, Sports Mon, 11 Dec 2017 12:10:03 +0000 en-US hourly 1 https://wordpress.org/?v=6.3.2 Sanlam buys off Lion Insurance Company https://www.weinformers.com/2017/11/22/sanlam-buys-off-lion-insurance-company/ https://www.weinformers.com/2017/11/22/sanlam-buys-off-lion-insurance-company/#respond Wed, 22 Nov 2017 08:43:26 +0000 http://www.weinformers.com/?p=50267 A South Africa-based financial services firm, Sanlam, which currently controls 2% of Uganda’s insurance business, has officially acquired Lion Assurance Company-Uganda. The chief Executive officer Sanlam -Uganda Gary Corbit says the deal is worth 6.5 million US dollars and is hoped will greatly increase insurance penetration which currently stands at less than 1% in Uganda. […]

The post Sanlam buys off Lion Insurance Company first appeared on Uganda Multimedia News & Information.

]]> A South Africa-based financial services firm, Sanlam, which currently controls 2% of Uganda’s insurance business, has officially acquired Lion Assurance Company-Uganda.

The chief Executive officer Sanlam -Uganda Gary Corbit says the deal is worth 6.5 million US dollars and is hoped will greatly increase insurance penetration which currently stands at less than 1% in Uganda.

The deal puts Sanlam insurance to acquire almost 100% of interest in the share capital of Lion Assurance Company in Uganda.

Sanlam, which entered the Ugandan insurance market through a 50.3% acquisition of NIKO insurance in 2013, is ranked 14th out of the country’s 21 non-life insurance companies.

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The post Sanlam buys off Lion Insurance Company first appeared on Uganda Multimedia News & Information.

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