Categories
General

Indwe announces shareholder and business changes

Santam, South Africa’s largest non-life insurer has increased its stake in Indwe Broker Holdings by acquiring the shareholding from African Rainbow Capital and Sanlam. This transaction makes Indwe a wholly owned subsidiary of Santam and includes Indwe Risk Services, the personal and commercial arm of Indwe as well as Indwe BlueStar, the financial services arm of Indwe.

“Santam has been a significant shareholder since Indwe’s inception. This transaction cements the relationship and enables us to create a stronger presence in the industry. It also highlights their ongoing confidence in the business,” says Peter Olyott, CEO at Indwe.

A second development at the business is the formation of Simah Risk Holdings, created by moving the large corporate and specialist offerings out of Indwe. This business will be owned by ARC Financial Services Investments and management.

“The past two years have taught us as individuals and as a business that you have to be adaptable in the face of change. Change is necessary because it facilitates growth. We’re excited about these new developments, however the one constant is our commitment to our clients, who will continue to receive the same expert risk advice and personal service that they know and trust,” says Olyott.

Your Preferences

You can switch off cookie types by clicking or pressing on their name. Mandatory Cookies cannot be disabled. You can change these preferences anytime.

Mandatory Cookies

These cookies are necessary for the website to function and can't be switched off in our systems. They are usually only set in response to actions you made which result in a request for services, such as setting your privacy preferences, logging in or filling in forms. You can set your browser to block or alert you about these cookies but some parts of the site may not work as a result.

Functional Cookies

These cookies allow the provision of enhance functionality and personalization, such as videos and live chats. They may be set by us or by third party providers whose services we have added to our pages. If you donít allow these cookies, then some or all of these functionalities may not function properly.

Advertising Cookies

These cookies are set through our site by our advertising partners. They may be used by those companies to build a profile of your interests and show you relevant ads on other sites. They work by uniquely identifying your browser and device. If you don't allow these cookies, you will not experience our targeted advertising across different websites as a result of these cookies.