IPL
IPL
IPL - Imperial Holdings Limited - Regent Life And Regent Insurance Merger
Imperial Holdings Limited
Registration number: 1946/021048/06
Share code: IPL
ISIN: ZAE000067211
("Imperial" or "the group")
REGENT LIFE AND REGENT INSURANCE MERGER
Imperial Holdings Limited is considering a merger of the Regent Life and Regent
Insurance businesses, which comprise the majority of Imperial`s insurance
division. This closely follows the recent sale of 65% of Imperial Re to
Flagstone Re of Bermuda, and is a further step taken in the streamlining of the
Imperial group.
Such a merger would enhance the growth prospects and operational synergies of
these businesses through shared marketing, cost savings and more effective risk
management and compliance. The merger would bring further economies of scale
with a single brand and improved growth potential.
In line with regulatory requirements in the Insurance industry, the individual
legal entities of Regent Life Insurance Company Limited and Regent Insurance
Company Limited (both subsidiaries of Imperial Holdings Ltd), would continue to
operate and report separately.
A rigorous consultation process will follow this announcement to assess the
viability, impact, benefits and risks of the potential merger. Employees,
clients, and service providers of both companies will be consulted where
appropriate.
A further announcement will be made once a final decision has been reached.
For further information:
Imperial Holdings
Tak Hiemstra 011 372 6500
Brunswick
Anne Dunn (011) 502 7300
Carol Roos
Company Secretary
RA Venter
By order of the Board
12 May 2008
BEDFORDVIEW
Sponsor
Merrill Lynch South Africa (Pty) Limited
Date: 12/05/2008 10:53:01 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
