South Africa's largest insurer Sanlam in talks about acquisition in Angola

Heinie Werth, CEO, Sanlam Emerging Markets

Sanlam has started talks about a potential acquisition in Angola, the company’s senior official told Reuters this week, as South Africa‘s largest insurer look for new streams of income to offset slowing growth at home.

“At this very moment, we are in discussions in Angola,” said Heinie Werth, head of Sanlam’s emerging markets unit. “Angola was always on our radar.”

Sanlam, which has businesses in several other countries such Ghana and Nigeria, has been bulking up its presence elsewhere in Africa, where rapid economic growth has increased the number of people with money to spend on insurance to protect their wealth.

Read more: South Africa’s Sanlam in talks about acquisition in Angola | Reuters