BIHL completes acquisition of stake in BIC

The transaction results in BIHL Group acquiring 50 percent of the shares in BIC through the purchase of shares in Teledimo (Pty) Ltd (BIC’s parent company). This follows the BIC’s acquisition of the BIHL subsidiary, BIHL Sure! general lines book in August 2014.

 “It is an exciting time for us at BIHL Group as we drive our strategy further. We are happy to share the fortuitous news on the acquisition, and thank the many parties and stakeholders involved in progressing this transaction. This includes the Board, management and staff of BIC, with whom we have fostered increasingly healthy relations in recent years,” said BIHL Group CEO, Gaffar Hassam.