S.Africa's Sanlam ups stake in Morocco's SAHAM Assurance

JOHANNESBURG (Reuters) - South Africa's largest insurer Sanlam said on Monday it will acquire an additional 22.8% stake in Moroccan insurance company SAHAM Assurance Maroc for 1.98 billion rand ($137.09 million).

The move will take Sanlam's direct and indirect stake in the company, whose products include home, health and car insurance, to 84.5%, Sanlam said.

($1 = 14.4434 rand)

(Reporting by Emma Rumney; Editing by Promit Mukherjee)