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Africa’s largest insurer, Sanlam, has agreed to form a joint venture (JV) with Europe’s largest insurer, Allianz, that will pool most of their businesses on the continent and create a financial services partnership worth more than R33bn.

The JV,  a partnership where operations are combined but companies retain their identities, will operate in 29 countries, excluding SA, for at least a decade. The resulting platform is expected to be ranked in the top three insurers in most of the markets where it will operate, Sanlam said...

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