On 5 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 a century of history in Africa, combined their
current and future operations across Africa to create the largest pan-African non-banking financial
services entity on the continent (excluding South Africa).
The parties have agreed to combine their current and future operations across Africa to create a
leading services entity operating across the continent, which is to be called SanlamAllianz.
The joint venture houses the insurance (Life & General), assistance, Third-party Administration, Asset
Management and associated credit (via two associated groups) businesses of both Allianz and Sanlam in the
African countries where one or both companies have a presence.
Sanlam and Allianz’s backing should enable us to reach our joint goal, which is to be a top-three
insurance company in all our chosen markets with the objective of becoming a true pan-African champion.
It should also enable us to create significant opportunities in numerous areas of the business,
including:
o Accelerated organic growth in our general insurance portfolio, growing our Bancassurance business in our
life portfolio, and maintaining our overall focus in the historically strong General and Life Insurance
markets
o Creating new products and operating in new market segments
o Providing an improved pan-African multinational offering including property & casualty insurance, and
employee benefits (group life assurance and health)
o Optimising our reinsurance offering and Digitalisation
o Increasing our focus and creating enhanced value in our asset management business
• Creating synergies in terms of our staff capabilities, product and services offerings, partnerships, and
distribution channels
• Built on our strong governance and compliance framework as well as risk management.
Jubilee Allianz is now part of Sanlam Allianz and has merged with Sanlam General with the combined
entity operating as Sanlam Allianz General Insurance (Kenya) Ltd.
Concurrently, Sanlam Life is now operating as Sanlam Allianz Life Insurance (Kenya) Limited
All contracts issued by the two companies remain valid. We will continue to honor our commitments to you
and to our customers in general, and we will continue to deliver the quality of service that Sanlam and
Allianz are known for globally.
Our merged entities combine the expertise and financial strength of two respected, well-known and
best-of-breed brands.
As our valued client, you will have access to an extended range of best-in-class, innovative general
insurance solutions and technical excellence. You will also benefit from a more diversified product
offering, more advanced service delivery systems, enhanced skills and knowledge, better risk management
solutions, and ultimately an enhanced client experience – from distribution to assistance – as our merged
entity builds on a stronger ecosystem of partners.
We remain fully committed to honoring all our existing commitments. The creation of our merged entities
will not affect our dedication to providing you with excellent service.
The merger will maintain communication and collaboration with clients to ensure a smooth transition and
to address any concerns or questions.
The merged entity will have plans in place to mitigate any potential disruptions to services or
products, and clients will be updated timeously.
You will have access to an extended range of best- in-class, innovative insurance solutions and
technical excellence. You will also benefit from a more diversified product offering, more advanced
service delivery systems, enhanced skills and knowledge, better risk management solutions, and ultimately
an enhanced client experience from distribution to assistance, as our merged entity builds on a stronger
ecosystem of partners.
As a merged entity, we are committed to achieving a leading position in insurance in the Kenyan market,
and we are planning multiple strategic initiatives, which should create more and new business
opportunities and attract more clients. Clients will also be able to invest in new, innovative channels
and have access to best-in-class insurance solutions and technical excellence.
Our current key focus is to combine, integrate and align our businesses in the best possible way in
2025.
You remain a valued stakeholder to us and our commitment to you remains unchanged. Please be assured that
our teams remain in place to provide you and our clients with the highest level of service.
Regular communications will be maintained to address any changes, if any.
Your current policy remains in effect, and if any updates become necessary, we will inform you well in
advance.
Your premium rates will remain unchanged for the duration of your current policy term. Any future
adjustments will be made in accordance with the standard renewal process and applicable regulatory
guidelines.
Your data privacy remains our top priority. Both companies are fully compliant with Kenya’s Data
Protection laws and are committed to safeguarding your information at every stage.
