Sanlam, Africa’s largest non-banking financial services group, and Allianz, one of the world’s foremost global insurers, have announced a landmark merger of their Nigerian operations, marking a major step in their Pan-African expansion strategy.
The newly formed entity, SanlamAllianz Nigeria, was officially unveiled last week at a high-profile event in Lagos. The merger is expected to significantly contribute to Nigeria’s Federal Government goal of achieving a $1 trillion economy.
The launch brought together executives, regulators, partners, and media representatives to witness the birth of a new powerhouse in the Nigerian insurance sector. SanlamAllianz Nigeria is part of a wider strategy by both parent companies to build Africa’s leading non-banking financial services groups across key markets.
By combining Sanlam’s extensive African footprint and strong track record with Allianz’s global expertise and technical excellence, SanlamAllianz aims to deliver superior customer experiences, innovative insurance products, and expanded financial inclusion across Nigeria.
Tunde Mimiko, MD/CEO of SanlamAllianz Life Insurance Nigeria, said: “Today marks a transformative chapter for Sanlam, Allianz, and the Nigerian insurance industry. Our joint venture blends complementary strengths, global know-how, deep underwriting heritage, and local insights to provide world-class insurance solutions to millions of Nigerians.
“At a time when Africa’s economic growth requires more than traditional insurance products, SanlamAllianz is committed to empowering individuals and businesses to build resilience, plan with confidence, and support inclusive economic development.”
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