/ 18 January 2000

SANTAM ON RATINGS WATCH

INTERNATIONAL credit rating agency Duff & Phelps said on Thursday it has placed the domestic ratings of Santam and Guardian National Insurance on ratings watch after news of Santam’s bid for Guardian. Santam this week launched a R1,58-billion bid for Guardian in a deal set to create the country’s largest short-term insurance firm with 25 percent of the market.