Investec Life, which provides high-end life cover to Investec Banking clients, is targeting as much as 50% of the lender’s 80,000-strong private banking client base over the long-term.

“That would be a very long-term ambition,” Investec Life CEO Michael Goemans said. “We’re not going to be high volume, mass market — 100,000 a month — or even 100,000 a year like a Discovery or a Liberty or a Sanlam. We’re trying to do a few thousand [clients] a year — quality within that private banking base. Between 10% and 50% of the base, that’s where we’re happy to play.”..

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