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Insurer Liberty Holdings sets aside $87 million for acquisitions

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South Africa-based insurer Liberty Holdings Ltd. said that it has set aside more than 1 billion South African rand ($87 million) for acquisitions in Africa, Bloomberg reported.

Liberty said that it also looks to raise more funds if required. "We intend to raise capital for large acquisitions, so if a big one lands then we'll probably do a combination of debt and equity," Liberty Holdings head Thabo Dloti said. Liberty's net income for 2014 amounted to ZAR 3.9 billion, said the insurer.

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