Alexander Forbes considers offers for insurance arm Guardrisk
South African financial services firm Alexander Forbes said on Monday it is considering possible deals to sell off stakes in its short-term and life insurance unit, Guardrisk.
"Alexander Forbes Equity Holdings Proprietary (EquityCo) has, over a number of months, received expressions of interest in Guardrisk Holdings, a subsidiary of EquityCo, from several parties. The EquityCo Board has now mandated the Group executive to explore and consider these approaches formally," it stated on SENS.
The company did not name investors that have shown interest in Guardrisk, which operates in South Africa, Mauritius and Namibia.
Alexander Forbes CEO Edward Kieswetter says the market interest in Guardrisk is attributable to the company’s "unique value proposition and strength, as well as its status as an acknowledged local and global market leader in its sector."
Click here to read the full Alexander Forbes announcement on SENS.