Old Mutual Insure Limited agreed to acquire 100% stake in GENRIC Insurance Company Limited on September 5, 2022. The Transaction is still subject to regulatory approvals, including Prudential Authority and Competition Commission approvals. Nedbank Corporate and Investment Banking acted as Debt Sponsor.

As of November 25, 2022, The Tribunal has unconditionally approved the large merger between Old Mutual Insure Limited and Genric Insurance Company Limited.