Sanlam and Allianz have obtained regulatory approvals for their joint venture, named SanlamAllianz. This strategic partnership aims to establish a dominant Pan-African non-banking financial services entity, operating in 27 African countries, with ambitions to rank among the top three players in market share and profitability. The combined venture, valued at around R35 billion, will offer a comprehensive suite of insurance products and financial solutions to both retail and corporate clients across Africa, emphasizing financial inclusion and digital innovation. South Africa is excluded from this agreement and Namibia will join at a later stage. Heinie Werth, currently CEO of Sanlam Emerging Markets, will lead SanlamAllianz, reflecting the commitment of both firms to meet the growing financial service needs in the African market.
