Alexander Forbes sells its retail life business to Sanlam for R100m ALEXANDER Forbes said yesterday it was selling its risk and retail life business, Alexander Forbes Life (AF Life), to Sanlam for R100 million as it reported a jump in assets under management during the year to the end of March. The group said the sale was subject to certain conditions, including regulatory conditions. Chief executive Dawie de Villiers said the AF Life disposal was in line with the groups strategy to focus on its core advice-led business and be capital light. The agreement with Sanlam Life follows a rigorous, impartial and transparent process, and we are pleased with the outcome, said De Villiers. De Villiers said the transaction balanced appropriate solutions for AF Life clients, ensuring both a seamless transition for its employees to Sanlam Life Insurance and benefits to shareholders. Sanlam is equally committed to delivering on the financial well-being of the clients and employees who are moving across in this transaction, said De Villiers. Sanlam said the proposed transaction would support its growth ambitions in South Africa and bolster its ranking in the group risk and retail life insurance markets.