Sanlam and Allianz have announced the official launch of their newly rebranded insurance company in Ghana, a strategic move aimed at enhancing their presence and service offerings in the rapidly growing West African market. The new entity, SanlamAllianz, combines the strengths of two of the world’s leading insurance and financial services providers, positioning itself as a formidable player in the region’s insurance sector.
This follows the recent regulatory approvals obtained by Sanlam and Allianz in Ghana to merge and rebrand their businesses as SanlamAllianz. The CEOs of the two businesses are Tawiah Ben-Ahmed, CEO and MD of SanlamAllianz Life Insurance Ghana, and Mabel Nana Nyarkoa Porbley, CEO and MD of SanlamAllianz General Insurance Ghana.
The SanlamAllianz joint venture, launched in September 2023, is the leading pan-African non-banking financial services company, operating in 27 countries across the continent. SanlamAllianz aims to leverage its combined global and pan-African expertise to unlock growth in Africa’s high-potential economies.
SanlamAllianz CEO, Mr Heinie Werth, said: “Launching the SanlamAllianz brand in Ghana marks a new milestone for us and the broader financial services market and our commitment to doing business in Ghana. It demonstrates our strategy to leverage our expertise to create leading businesses in the economies where we choose to operate and supports our intention to enable access to financial services.”
“The joint venture will also leverage the combined economies of scale of our shareholders, Sanlam and Allianz, as well as greater distribution opportunities, shared knowledge, and existing partnerships in telecommunications and bancassurance to benefit our customers,” Mr Werth added.
SanlamAllianz’s ambition is to leverage its global and pan-African expertise, and unlock growth in Africa’s high-potential economies, in line with its purpose to empower generations to be financially confident, secure and prosperous. This will be achieved through supporting financial inclusion through innovative, cutting-edge technology and diverse financial services that create shared value for all stakeholders.
Sanlam, headquartered in South Africa, and Allianz, based in Germany, bring together their extensive expertise and resources under the SanlamAllianz brand. The joint venture integrates the existing operations of both companies in Ghana, offering a comprehensive range of products and services, including life and general insurance, asset management, and wealth management.
In September 2023, Sanlam, Africa’s largest non-banking financial services company, and Allianz, a global leader in insurance and asset management with over a century of experience in Africa, joined forces to create the continent’s largest pan-African non-banking financial services entity. Operating as SanlamAllianz, the joint venture is among the top three Insurance Companies in most of its selected markets.
It follows a shared-value approach, benefiting staff, clients, markets, communities, economies, business partners, and shareholders. The company’s ambition is to maintain its leadership position in all its operating markets and continue providing world-class products and services to its clients.
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