The merger is expected to close in June next year.
JSE-listed life insurance firm Clientèle on Friday informed investors of its plans to acquire 1Life Insurance Limited from Telesure Investment Holdings in an exchange-of-shares agreement.
“Under the merger agreement, both the 1Life and Clientèle brands will continue to operate much the same as they have until now. We are not just merging two businesses; we are bringing together decades of industry expertise, trusted services, innovation and specialised offerings,” Clientèle CEO Basil Reekie said.
“Both companies have strong complimentary broker, digital and direct distribution channels with diverse product differentiation that can be used to enhance target market opportunities, resulting in incredible synergies and growth opportunities,” 1Life CEO Laurence Hillman said in a statement.
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