The South African financial services group said the transaction will deliver an additional global distribution partner for its insurance-based and asset management products.
A relatively young company, P2 was founded in 2009 by a team of executives experienced in the manufacturing and distribution of international protection products. While its head office is in Bermuda, the group has a presence throughout the world, providing a range of services ranging from technology, systems, marketing and sales support.
Sanlam Investments chief executive Johan van der Merwe said: “We have worked with P2 – through Glacier, Glacier International and Sanlam Global Investment Solutions (SGIS) – for a number of years and are now looking forward to deepening and widening this relationship through the new ownership arrangement.”
Cobus Kruger, managing director of SGIS – a division of the Sanlam Group that provides international investment solutions, including the P2Strategies to international clients – has taken up the post of CEO of P2, in addition to his role at Sanlam.
