The new joint venture SanlamAllianz comes into being

The Sanlam and Allianz groups have been granted regulatory approval for the establishment of a pan-African non-banking financial services joint venture.

Sanlam AllianzNamed "SanlamAllianz", the new entity will be operating in 27 African countries (excluding South Africa). Namibia will be included at a later date.

Individuals and companies will now benefit from a wider range of insurance products tailored to their needs, as well as improved financial solutions.

With a market value of almost 35 billion ZAR (1.8 billion USD), SanlamAllianz is striving to position itself among the top three players, in terms of market share and profitability, in the markets where it will be present.

Heinie Werth, current CEO of Sanlam Emerging Markets, has been appointed CEO of the joint venture.

For the record, this project was announced in May 2022 when Sanlam and Allianz signed a partnership agreement to consolidate their respective activities in Africa (excluding South Africa).

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