Sanlam intends to raise its ownership in BrightRock from 62% to 100%, investing between R494m to R836m over the next three years based on new business targets. Despite the increased stake, BrightRock will continue to operate independently with its own brand and management. BrightRock has seen significant growth, reaching over R393 billion in cover and a total annualized premium income of over R2.1 billion since its inception. According to the latest Swiss Re new business volumes survey, BrightRock has been recognized as the top provider of sum assured in the intermediated IFA individual life market, holding 16.6% of the overall cover purchased in 2021. Additionally, it holds the highest market share for funeral products sold in the IFA space, with a 21.9% share of the total sum insured according to the same survey.
