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Sanlam Proposes Taking Control of Kenya’s Pan Africa Insurance

Hubris Holding Ltd., a unit of Sanlam Ltd., proposed purchasing additional stock of Pan Africa Insurance Holdings Ltd. to take its share to a controlling stake in the Kenya-based company offering life and general coverage.

Hubris Holdings currently owns 50 percent in Pan Africa, the company said in a statement published in the Nairobi-based Saturday Nation newspaper today. Sanlam is the largest insurer based in South Africa by market value.

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