Africa
Old Mutual Int’l suffers amid sharp decline in Qrops sales
Old Mutual International saw a sharp drop in sales of qualifying recognised overseas pension schemes (Qrops) following the introduction of UK pensions freedoms in April last year.
Abu Dhabi and S. Africa regulators sign partnership deal
South Africa’s Financial Services Board (FSB) and the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) have agreed to collaborate more on regulatory matters and facilitate the exchange of information between the countries.
South African life insurer Discovery moves into Japan
South Africa’s third largest insurer by market value, Discovery, has teamed up with Japan’s Sumitomo Life Insurance and SoftBank Group to launch life products into Japan, the company has announced.
South Africa insurer Sanlam buys 49% stakes in Firstglobal AM
Graviton Financial Partners, a wholly-owned subsidiary of South African insurance giant Sanlam, has acquired a 49% stake in Firstglobal Asset Management for an undisclosed sum.
Zurich to sell Africa units to Canadian insurer Fairfax
Swiss-based insurer Zurich has sold its operations in South Africa and Botswana to Canada’s Fairfax Financial Holdings for an undisclosed sum.