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(From Insurance Day)
Byline: Richard Banks
SOUTH African broker Alexander Forbes is to buy a 60% shareholding in east African actuarial services firm Hymans Robertson Kenya.
The deal, which is subject to approval by Kenyan competition authorities, is worth KSh80.4m (GBP650,000) and will leave senior Hymans Robertson Kenya staff with the remaining stake. It comes as UK parent Hymans Robertson decided to focus on its other international offices.
Following the successful completion of the deal, the company is expected to be renamed Alexander Forbes Financial Services (East Africa) (Pty) Ltd.
The deal is Alexander Forbes's latest …