Sanlam don take over FBN insurance.

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South African Insurance group wey dem dey call Sanlam don bi di only shareholder for di Nigerian Life Insurance  Company, FBN Insurance and im subsidiary wey bi FBN General Insurance.

Dem acquire am after dem sign deal between FBN Holding (Di main company for FBN Insurance and FBN General Insurance) and Sanlam wey don make di southie company bi owner over di 65% wey FBN Holding bin get for di company.

Before dem sign di agreement, Salam bin get 35% of FBN insurance. Dem run di transaction through Sanlam business branch wey dey focus on market wey dey come up, Sanlam Emerging Markets (SEM) and dem don receive all di approval wey dem need.

As e bi so, FBN Insurance (Life) an d im subsidiary, FBN General Insurance Limited don bi Sanlam own.

Dem seal di deal through Share Purchase Agreement (SPA), wey go start for June 1.

Make we nor forget say FBN Holdings start di process to sell dem shares wey dey for FBN Insurance since April 2020. Di operation dey line wit di development wey di Nigerian group dey run so. Dem never announce di wey dey involve for did mata                                                                                                                       
Wetin happen so no affect FBN insurance Brokers Limited as e still dey under FBN Holdings.

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