Sanlam to acquire Rwandan insurer

South Africa-based insurer Sanlam Ltd. is buying Rwanda-based Soras Group Ltd. as part of its strategy to expand its operations across Africa, The New Times reported citing sources. Under the deal, Sanlam's Rwandan unit – Saham Assurance Rwanda Ltd. – will merge with Soras. The new entity will account for more than 40% of Rwanda's insurance market.

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