Sanlam buys remaining stake in FBN

Pan-African insurance group Sanlam has acquired a remaining stake in Nigeria’s FBN Insurance (FBNI) from its partner, FBN Holdings Plc, giving Sanlam 100% ownership of FBNI and its subsidiary, FBN General Insurance. The transaction, conducted through Sanlam’s business cluster focused on emerging markets, Sanlam Emerging Markets (SEM), has received all the necessary regulatory approvals. FBN Holdings Plc previously held 65%…

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