Sanlam (South Africa) acquires 51% of MCIS Zurich Insurance

Sanlam has acquired 51% of MCIS Zurich Insurance Berhad, a local life insurer. The transaction amounts to 119 million USD.

This acquisition, divided into two stages (acquisition of 40% to Koperasi MCIS Berhad and acquisition of 11% to minority shareholders) will "strengthen [the] presence of [Sanlam] in this country," said Heinie Werth, head of Sanlam Emerging Markets, Malaysia being a "key element in the future growth strategy of Sanlam."