Insurer Sanlam said on Tuesday that it has signed an agreement with Australia’s Macquarie Bank to jointly set up a firm to sell financial services to wealthy individuals in South Africa. “The new company will offer a technology driven range of innovative financial solutions and products, targeting high net worth investors,” the head of the new company Charl le Roux said. Le Roux, who was the former head of Sanlam Health, said that the new venture expected to launch its first product within the next 12 months.