A joint press release issued on Tuesday indicates that South African insurance company Sanlam Limited signs an agreement to acquire 60% of the pay-TV insurance business, MultiChoice Group, NMS Insurance Services for 1.2 billion South African rand (approximately 99.14 billion naira

The companies said the deal included a long-term commercial agreement that aims to expand insurance and financial services offerings associated with MultiChoice's vast African subscriber base. According to Paul Hanratty, CEO of Sanlam Group, this agreement offers the opportunity to take advantage of the respective business footprints and our technological capabilities that will support growth and market penetration, as well as opportunities to realize synergies for the benefit of all stakeholders

Pour sa part, le PDG de MultiChoice , Calvo Mawela said that “this collaboration with Sanlam is a strategic step for MultiChoice. This not only allows us to increase the value we provide to our subscribers, but also allows us to leverage Sanlam's expertise to drive the growth and innovation of our insurance offerings across the continent. It's a nod to the incredible work done by our teams.”