Bloomberg News

Santam to Increase Stake in Malawi Venture, Business Day Reports

September 01, 2011

Sept. 1 (Bloomberg) -- Santam Ltd., South Africa’s largest property and casualty insurer, plans to increase its stake in Malawian associate, Nico General Insurance, to 49 percent from 26 percent, Business Day reported.

The insurer also expects to enter the Nigerian market by next year and is looking at opportunities in Ghana, the Johannesburg-based newspaper said, citing Chief Executive Officer Ian Kirk.

To contact the editor responsible for this story: Alastair Reed at areed12@bloomberg.net


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