May 26, 2016 / 1:02 PM / a year ago

South Africa's MMI Holdings takes over Nigerian life insurer

JOHANNESBURG, May 26 (Reuters) - South African life insurer MMI Holdings has acquired full ownership of United Metropolitan Nigeria Life Insurance after purchasing the 50 percent stake it did not already own, it said on Thursday.

"The acquisition of the remainder of United Metropolitan demonstrates MMI Holdings' commitment to grow our market presence in Africa," CEO Nicolaas Kruger said in a statement. (Reporting by TJ Strydom; Editing by James Macharia)

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