![[Namibia] Capricorn Group sells stake in insurance firm to Sanlam Namibia Holdings](Capricon.jpg)
[Namibia] Capricorn Group sells stake in insurance firm to Sanlam Namibia Holdings
Capricorn Group and Sanlam Namibia Holdings have successfully concluded a transaction where Capricorn Group has sold 100 per cent of its shareholding in Welwitschia Insurance Brokers to Sanlam Namibia Holdings Group Limited.
“The shareholding of Capricorn Group in Sanlam Namibia Holdings will not be affected by this transaction. Staff members of WIB will all remain in the employment of Welwitschia Insurance Brokers but will henceforth form part of the Sanlam Namibia Holdings group.
“The transition of our employees at WIB to Sanlam Namibia Holdings was carefully managed and planned so as not to disrupt the service to our valued clients and also considered any potential impact on staff,” said Thinus Prinsloo, managing director of Capricorn Group.
“I want to assure the clients and stakeholders of WIB that Riaan Louw, acting managing director, and the management team of Welwitschia Insurance Brokers will continue to lead the company with the support of Sanlam Namibia Holdings.
“The benefits of this transaction to the clients of Welwitschia Insurance Brokers are an improved offering and service to clients, more streamlined processes and increased support,” said Tertius Stears, chief executive officer of Sanlam Namibia Holdings.
Reflecting on the concluded deal, Prinsloo added: “Capricorn Group is proud of its association with Sanlam Namibia Holdings and look forward to strengthen our bancassurance relationship with this well-diversified financial services group, to the benefit of our mutual clients and stakeholders.
“I am pleased to confirm that, for the convenience of our clients, WIB will retain their offices in the Bank Windhoek branches and we trust that the excellent client service provided by the WIB team will be even better going forward.”
