Magazine date:
Apr 2015 Sanlam is gradually consolidating its position in Africa. The continent’s number one insurance company plans to achieve, in 2015, acquisitions in emerging countries, mainly in Africa for an amount of 3.3 billion ZAR (284 million USD).
The insurer is currently involved in various similar operations, the total sums of which amount to 2 billion ZAR (172 million USD). South Africa is said to be a mature country where development opportunities are limited.
Competition, there, is fiercer than in other African countries which reduces margins. Sanlam operates in 11 countries in the region including Nigeria and Ghana.
The turnover reported on the continent (excluding South Africa) accounts for nearly 11% of total premiums.