SA Insurance Plc (NGSE:STDINSURE) agreed to acquire SA Life Assurance Limited on April 20, 2015. SA Life Assurance Limited is an affiliate of SA Insurance. The transaction was approved by the Boards of SA Life Assurance Limited and SA Insurance Plc.

The transaction is still subject to approval of National Insurance Commission and Nigerian Stock Exchange. As of September 28, 2016, deal received approval from the shareholders of both the parties and National Insurance Commission. As of January 23, 2017, Federal High Court in Lagos approves the transaction.

The transactions is expected to complete before the end of the third quarter of year 2015. Securities and Exchange Commission and National Insurance Commission approved the transaction in 2016.