Sanlam remains in Togo. Only the life insurance branch was sold to the NSIA Group, reminded the South African insurer.
“It is a financial strategy operation, each group carrying out a timely business that aligns with its vision of development and profitability”, explained Simon Pierre Gouem, General Manager of Sanlam-Togo.
NSIA and Sanlam are reorganizing their portfolios. The Ivorian group and the Pan-African giant recently announced a double sale-acquisition of several subsidiaries.
In detail, NSIA sells its life and non-life (property and casualty / non-life insurance) subsidiaries in Mali to Sanlam. While the latter retrocedes to NSIA two life subsidiaries (in Togo and Gabon) and two non-life insurance companies (Guinea and Congo).
Finalization remains subject to regulatory approval.
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