Expansion strategy in Africa: The case of Sanlam

Long before the creation of the SanlamAllianz entity in 2023, the Sanlam Group had been independently and consistently pursuing a strategy of external growth in Africa. The South African insurer has established itself over the past several years as one of the most active players on the continent through a series of targeted acquisitions and equity investments.

Over the years, these transactions have enabled Sanlam to expand its geographic presence in Africa, diversify its business portfolio, consolidating its position in the life, non-life, and financial services segments.

Sanlam's mergers and acquisitions in Africa: 2005-2024

Transaction amount in millions USD

NA: not available

Source : Atlas Magazine

SanlamAllianz: The birth of a Pan-African insurance giant

SanlamAllianz is a new pan-African insurance entity composed of the South African group Sanlam and the German giant Allianz. Established in September 2023, SanlamAllianz brings together the life and non-life insurance operations of both groups in some 30 countries, excluding South Africa. This merger has created the continent’s largest insurance group and a major player in African non-bank financial services, estimated at nearly 35 billion ZAR (1.8 billion USD).

Today, SanlamAllianz operates in numerous African markets, including Angola, Benin, Botswana, Burkina Faso, Cameroon, Côte d’Ivoire, Egypt, Ghana, Kenya, Morocco, Nigeria, Senegal, Tanzania, and Togo.

Timeline of the M&A transaction between Sanlam and Allianz

Source : Atlas Magazine