METROPOLITAN PLANS LIFE COMPANY IN SWAZILAND

South African assurer Metropolitan Holdings plans to begin a life operation in Swaziland via a newly launched subsidiary. Currently the only locally based insurance operation in Swaziland is Royal Swazi, which is majority owned by the Swaziland government. Metropolitan Holding would have a majority stake in the new company, but Swaziland law requires that domestic investors hold at least a 25% stake in local insurers. Cape Town-based Metropolitan already operates in six countries outside South Africa — Nigeria, Ghana, Botswana, Lesotho, Namibia and Kenya.