South African insurers have called on the government to start compulsory motor cover to reduce the cost to motorists and companies from the country’s millions of drivers taking to the roads without protection. In South Africa “up to 60 percent …
Rand Merchant Insurance Holdings Ltd., which owns stakes in four insurers, hired Chris Meyer, head of RMB Morgan Stanley, as the holding company run by a former Deutsche Bank AG executive adds investment talent. Meyer will leave at the end …
Angela Dike was showing clients how to make duck red curry and chocolate spring rolls in her Thai cooking class when hail stones as big as golf balls started slamming into the 18 cars parked outside. Windscreens and headlights were …
Marsh & McLennan Cos. will buy a 34 percent stake in Alexander Forbes Ltd. as Africa’s largest independent pension-fund manager prepares to sell shares on the Johannesburg Stock Exchange next month. Mercer Africa Ltd., a subsidiary of New York-based Marsh …
Sanlam Emerging Markets, a unit of South African insurance company Sanlam Ltd., said it’s buying 51 percent of Malaysia’s MCIS Zurich Insurance Berhad for about 1.25 billion rand ($118.4 million). Sanlam will first buy a 40 percent stake in MCIS …
Old Mutual Plc, Africa’s biggest insurer, is selling its Skandia units in Germany and Austria for €220 million ($303 million) in cash. The two businesses, part of the London-based insurer’s wealth division, are being acquired by a Cinven Ltd. and …
