Santam partners with MultiChoice for acquisition of 60% stake in NMSIS insurance business
11/29/24, 10:15 AM
Location
bellvilleMoney
r925 million
Industry
insurance
employee benefits
financial services
Type
partnership
Santam, South Africa's largest short-term insurer, has agreed to acquire a 60% stake in MultiChoice’s insurance business, NMSIS. The purchase is worth R925m and is expected to extend Santam’s reach to serve MultiChoice’s estimated 8 million South African client base, driving the uptake of insurance and penetration to narrow the protection gap.