INVESTOR’S NOTEBOOK: Captain Kirk is back
Sanlam CEO Ian Kirk has had plenty of chances to satisfy his itch to buy in the rest of Africa, and also in India and Malaysia
If you have bought and sold as many insurance companies as Sanlam CEO Ian Kirk, it starts to become second nature. He has been curiously quiet since 2006 when he joined the group as head of strategy. He got the bug for setting up greenfields businesses when he oversaw the birth of MiWay direct insurance — or should we call it a pinkfields project, in honour of its corporate colour? Of course it is easier for Sanlam to build than buy because of the competition implications of adding to its already high market share by killing off another insurer. At least Kirk has had plenty of chances to satisfy his itch to buy in the rest of Africa, as well as in India and Malaysia. His signature deal was to buy 46% of Morocco-based Saham Finances, and one can imagine him putting on a white tuxedo to play Humphrey Bogart in Casablanca. And only in selected cases has he rebranded the international businesses as Sanlam.So it is good to see that Kirk has returned to the domestic dealmaking arena, wher...
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