Sanlam and Allianz have launched their JV brand, SanlamAllianz, in Ghana, further expanding their African insurance operations.
The launch comes after regulatory approvals for the merger and the rebranding of Sanlam and Allianz’s operations in Ghana.
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Launched in September 2023, the SanlamAllianz JV is a pan-African non-banking financial services company with a presence in 27 countries across the continent.
In Ghana, leading the venture are Tawiah Ben-Ahmed as the CEO and MD of SanlamAllianz life insurance Ghana, and Mabel Nana Nyarkoa Porbley as the CEO and MD of SanlamAllianz general insurance Ghana.
SanlamAllianz aims to harness its global and pan-African expertise to stimulate growth in Africa’s burgeoning economies.
The JV plans to support financial inclusion by leveraging innovative technology and offering a diverse range of financial services that create shared value for all stakeholders.
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By GlobalDataIt will also capitalise on the telecommunications and bancassurance partnerships of both Sanlam and Allianz to explore new opportunities in Africa.
SanlamAllianz CEO 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.”
Last month, Sanlam agreed to acquire a 60% stake in NMS Insurance Services (NMSIS), MultiChoice’s insurance arm.
NMSIS, a micro-insurer in South Africa, has been underwriting various life and non-life insurance products for more than two decades, including installation, funeral, device, subscription and debt waiver insurance solutions.
The acquisition includes a long-term commercial agreement between Sanlam and MultiChoice designed to extend insurance and financial services to MultiChoice’s extensive customer base, which includes 21 million households across 50 African countries.
Sanlam intends to utilise MultiChoice’s customer engagement channels and payment systems to offer an expanded range of services.
