MMI and MSTI CEOs positive about the deal

MMI's acquisition of MSTI strategically supported its plan to grow organically and acquisitively, according to Business Day. MMI CEO Nicolaas Kruger was quoted saying that MMI wanted to cement its influence in the short-term insurance market whose annual premium income exceeds R55 billion. He added that MSTI planned to inquire into short-term opportunities in Africa as the present short-term insurance business in Tanzania was performing well. Brand Pretorius, CEO of MSTI, was positive about the company's future, said that the business had ''great potential'' and had been profitable since inception.

2012-06-06 10:30:35