Johannesburg - South Africa's biggest insurer by market value, Sanlam [SLM], said on Thursday it has a R4bn kitty for acquisitions in Africa and Asia this year, after purchasing businesses worth R2.5bn in 2013.
"We have a good pipeline of transactions in India, Malaysia, Africa, and we'd also like to strengthen our asset management operation in the UK. And then one or two opportunities in South Africa," CEO Johan van Zyl told Reuters.
Last month, Sanlam acquired an indirect stake in Nigeria's Oasis Insurance after a company it partially owns purchased 71% in the motor and fire insurer.
"We have a good pipeline of transactions in India, Malaysia, Africa, and we'd also like to strengthen our asset management operation in the UK. And then one or two opportunities in South Africa," CEO Johan van Zyl told Reuters.
Last month, Sanlam acquired an indirect stake in Nigeria's Oasis Insurance after a company it partially owns purchased 71% in the motor and fire insurer.