Sanlam, Africa’s biggest non-banking financial services powerhouse, and Allianz, one of the world’s most recognised global insurers, have announced a significant milestone in their Pan-African expansion strategy.

They have successfully merged their operations in Nigeria, one of Africa’s leading economies.

The merger, which now carries the brand SanlamAllianz Nigeria, officially launched on Thursday, June 5, 2025, during a high-profile event at the Oriental Hotel, Victoria Island Lagos.

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Executives, regulators, partners, and the media gathered to witness the unveiling of the new brand.

Sanlam and Allianz created SanlamAllianz Nigeria as part of a broader initiative to form Africa’s leading non-banking financial services group in various markets.

By leveraging Sanlam’s extensive continental footprint and achievements and combining them with Allianz’s global reputation and technical expertise.

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This new entity aims to offer enhanced customer experiences, innovative insurance solutions, and improved financial inclusion in Nigeria.

During a press briefing at the event, Tunde Mimiko, MD/CEO of SanlamAllianz Life Insurance Nigeria, stated,

“Today marks a transformative chapter for Sanlam and Allianz but, even more importantly, the Nigerian insurance industry.

Our joint venture, SanlamAllianz, fuses complementary strengths, global expertise, rich underwriting heritage, and local insights to expand access to world-class insurance solutions for millions of Nigerians.

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“At a time when Africa’s economic evolution demands more than traditional products, SanlamAllianz commits to empowering individuals and businesses to build resilience, plan confidently, and drive inclusive growth.

By embedding innovation and collaboration at our core, we aim to navigate the complexities of Nigeria’s market with integrity and excellence, set a new benchmark for the insurance industry, and secure the future of our people and businesses.”

At the heart of SanlamAllianz’s mission, the company maintains a steadfast commitment to fostering Confidence in Nigeria.

In an often-uncertain market, this partnership serves as a beacon of stability and reliability for Nigerians and businesses.

SanlamAllianz delivers transparent, customer-centric solutions and upholds the highest standards of governance and ethics to build enduring trust, empowering individuals and enterprises to face the future with confidence.

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Commenting on the merger’s significance for Nigerian economic development, Yomi Onifade, MD/CEO, SanlamAllianz General Insurance Nigeria, stated,

“The emergence of SanlamAllianz Nigeria is timely and significant, especially as Nigeria has boldly announced its ambitions to achieve a \$1 trillion economy. Such an ambitious goal requires the backing of a financially solid underwriter and exceptional risk management expertise.

“We understand that building confidence in the market involves more than just offering insurance products; we must strictly adhere to governance, transparency, responsiveness, and excellence in service delivery.

At SanlamAllianz, we recognise the unique challenges that businesses and industries face and are well-positioned to provide tailored solutions that inspire trust and deliver real value.”

Sanlam and Allianz have already merged their businesses in several African countries.

This includes key markets like Kenya, Morocco, Ghana, Uganda, Côte d’Ivoire, and now, Nigeria.

They have integrated their operations by combining decades of experience across insurance and asset management to serve local markets better while streamlining product delivery and regional expansion.

With Nigeria’s low insurance penetration among its vast population, SanlamAllianz is strategically positioning itself at the right moment to transform the Nigerian insurance landscape.

The company aims to build lasting trust in insurance as a vital tool for long-term financial security by embracing innovation, fostering financial inclusion, and expanding accessible coverage.

About SanlamAllianz

SanlamAllianz is a leading Pan-African financial services entity, which Sanlam, Africa’s largest non-banking financial services provider, and Allianz, one of the world’s foremost Insurers and Asset Managers.

It was established in September 2023 through a joint venture. Operating across 27 African countries.

SanlamAllianz combines over two centuries of collective experience to offer a comprehensive suite of services, including life and general insurance, asset management, assistance, third-party administration, and retail credit.

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