Sanlam’s R20.7 billion bid to take full control of the company that created it

• Sanlam’s R20.7 billion bid to take full ownership of Santam will give Africa’s top insurer greater freedom to deploy capital across the continent, India, and the Lloyd’s of London market.
• Cape Town-based Sanlam, which operates in about 29 countries, has been on a years-long dealmaking spree to bolster its South African business and expand elsewhere.
• Sanlam is making the move just as it prepares to roll out transactional-banking services in the first quarter of next year, and Santam expects the business to break even in 2027.