Sanlam, Allianz Announces Merger, Brand Launch in Ghana  

Sanlam and Allianz have announced the launch of their joint venture brand, SanlamAllianz, in Ghana. This follows the regulatory approvals of the Sanlam and Allianz businesses in Ghana obtained recently to merge and rebrand to SanlamAllianz.

A statement by the two firms said the  SanlamAllianz joint venture, which was launched in September 2023, is the leading pan-African non-banking financial services company, which operates in 27 countries across the continent.

The statement  said the  CEOs of the two businesses were Tawiah Ben-Ahmed, Chief Executive Officer/MD of SanlamAllianz Life Insurance Ghana, and Mabel Nana Nyarkoa Porbley, Chief Executive Officer/MD of SanlamAllianz General Insurance Ghana.

According to the statement, 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”; the statement said.

Commenting on the deal, 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.”

According to him, the  joint venture will also leverage the combined economies of scale of the  shareholders of Sanlam and Allianz, as well as greater distribution opportunities, shared knowledge, and existing partnerships in telecommunications and bancassurance to benefit  customers.

In September 2023, Sanlam, the largest non-banking financial services company in Africa, and Allianz, one of the world’s leading insurers and asset managers with more than a century of history in Africa, joined forces to create the largest pan-African non-banking financial services entity on the continent, as SanlamAllianz.