Alexander Forbes plans to sell its insurance businesses, the financial services group said on Tuesday while announcing a shift in strategy towards an “advice-led and capital-light model”. The pension fund administrator said it would look for a buyer for its group risk, retail life and short-term insurance units. By offloading those operations, the company’s regulatory requirements would decrease, it said. “The disposal of these premium businesses will be based on a value proposition that balances appropriate solutions for our clients, protects and values the employees who have contributed to the success of these businesses, and realises fair value to our shareholders. “A new owner will be able to continue its success and fuel future growth through additional investment,” the group said. Alexander Forbes’s insurance businesses generated R1.3bn in revenue in the six months ended September 2018, versus total revenue of R3.4bn. “We will return surplus capital to shareholders taking cogn...

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