Sanlam acquires FBN Insurance

FBN Holdings, a Nigerian financial group, sold its entire stake of 65% in FBN Insurance, to Sanlam Emerging Markets.

The latter previously held 35% of the Nigerian company. This
operation enables the South African insurer to take full ownership of
FBN Insurance and its subsidiary FBN General Insurance. The amount of
the transaction was not disclosed.

Culled from Atlas Magazine

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The African Insurance Organisation (AIO), established in 1972, is a non-governmental organisation recognised by many African governments.

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