Sanlam Emerging Markets (Pty) Limited agreed to acquire minority 49% stake in NICO General Insurance Company Limited and 49% stake in NICO Insurance Zambia Limited and 48.4% stake in NIKO insurance Uganda Limited and 32.67% stake in NIKO Insurance Tanzania Limited from NICO Holdings Limited (MAL:NICO) on January 27, 2018. NICO General Insurance Company Limited and NICO Insurance Zambia Limited and NIKO insurance Uganda Limited were acquired on January 27, 2014. The closing of NIKO Insurance Tanzania Limited is subject to regulatory approval.

As of July 15, 2014, all the deal condition were fullfilled