JSE-listed life insurance firm Clientèle 1Life Insurance from Telesure Investment Holdings for R1.91 billion in an exchange of shares. The deal is expected to be completed by June 30, 2024. Both companies will continue to operate under their own brands, but the merger will create a larger and stronger player in the mass market. Clientèle and 1Life have complementary distribution channels and product offerings.
The deal is also expected to improve operational efficiencies and allow the two companies to scale up their customer service capabilities.
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