The Com­pe­ti­tion Au­thor­ity has ap­proved San­lam Limited’s bid to ac­quire ad­di­tional shares in Pan Africa In­sur­ance. This will in­crease San­lam’s stake from 50 per cent to 60 per cent, the con­trol­ling share in the Kenyan in­surer.

San­lam said the in­creased stake would en­able the com­pany to make ma­te­rial changes; a re­struc­tur­ing of the Pan Africa In­sur­ance board and a re­view of its busi­ness op­er­a­tions.

San­lam’s con­tin­ued ex­pan­sion into Kenya’s in­sur­ance mar­ket is ri­valed by Lib­erty Hold­ings, which is seek­ing a larger piece of the mar­ket through CFC Life.

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