Swanvest 120 (Pty), Ltd., a wholly owned subsidiary of Santam Limited, has entered into an agreement with Sanlam Life Insurance, Ltd., a wholly-owned subsidiary of Sanlam Ltd., pursuant to which Swanvest will acquire Sanlam Life's 68.75% stake in the issued ordinary shares of MiWay Group Holdings (Pty) Ltd., a provider and short-term insurer that offers a financial products and services, for a consideration of ZAR240 million ($34.87 million).