RBH holds 10% of Zurich Insurance Company South Africa, as well as an option to increase the stake to 24.9% in 2008. This interest is held through 51%-held subsidiary Royal Bafokeng Finance.
Listing: JSE - ZSA
Zurich is the third-largest short-term insurer in South Africa. The company provides short-term insurance products in both the domestic and commercial markets, transacting all classes of short-term insurance. The company markets its products almost exclusively through brokers and agents, and has a network of offices throughout South Africa, subsidiary insurance companies in Botswana and Zimbabwe, and an associate insurance company in Mauritius.
SA Eagle is listed on the JSE and its major shareholder is Zurich Financial Services (73.6%). Royal Bafokeng Finance (RBF) holds 10% and the remaining 16.4% is held by Mutual & Federal and the general public.
Zurich announces the sale of a 10% stake of Zurich in support of Black Economic Empowerment in South Africa
Date, 13 April 2005
