SanlamAllianz is determined to secure a place among the top three market leaders in terms of both market share and profitability within the markets it serves. With an estimated combined group equity value (GEV) of approximately R35 billion, the joint venture will offer an extensive range of insurance products and financial solutions tailored to the needs of retail and corporate clients.
This collaboration marks a pivotal moment for both companies, with the shared goal of creating significant value for clients, shareholders, and other stakeholders. SanlamAllianz intends to leverage the combined expertise and resources of Sanlam and Allianz to deliver innovative solutions and services that meet the evolving needs of clients across the African continent.
Paul Hanratty, CEO of Sanlam, expressed confidence in the venture, stating, "We are confident that SanlamAllianz will create significant value for clients, shareholders, and other stakeholders. The combined expertise and resources of our respective companies will enable us to provide innovative solutions and services to meet the ever-evolving needs of our clients on the African continent."
Christopher Townsend, a board member of Allianz SE, emphasised the venture's potential to gain leadership positions in key markets, particularly in general insurance and life segments. He noted that the partnership would allow Allianz to deepen its commitment to the African continent.
SanlamAllianz has outlined its priorities, which include driving financial inclusion through digital innovation, enhancing offerings in property and casualty as well as life insurance segments, and growing the life and general insurance businesses through product, service, and distribution innovation.
Heinie Werth, currently the CEO of Sanlam Emerging Markets, has been appointed as the CEO of SanlamAllianz. With an extensive 25-year career at Sanlam, Mr. Werth brings a wealth of experience to lead this ambitious endeavor.
The establishment of SanlamAllianz marks a significant milestone in the African financial services sector. The joint venture's commitment to innovation and customer-centric solutions positions it to make a substantial impact across the African continent's fast-growing markets.