Wednesday, April 9, 2025
26.4 C
Lagos

Allianz, Sanlam Joint Venture Targets 29 Markets in Africa

Mr. Amine Benabbou

Head of Business Division, Africa and Middle East

Allianz SE 

The recent joint venture between Allianz and Sanlam to create the single largest insurance entity in Africa plans to operate as a leading market player in 29 countries on the continent.

Mr. Amine Benabbou, Head of Business Division, Africa and Middle East at Allianz SE said the two iconic brands are poised to change the industry landscape in Africa going forward.

“Allianz and Sanlam’s respective footprints in Africa (excluding South Africa) currently overlap in 12 countries. In addition to these the joint venture will also be able to add a further 17 markets in which either Allianz or Sanlam operate. This will allow the JV, subject to regulatory approvals, to span across 29 markets on the continent, making it the largest insurance player in Africa.”

Benabbou said the core objective of the joint venture is to be the largest pan-African insurance player with a meaningful market positioning in the majority of the markets in which it will operate.

“Allianz sees a number of strategic benefits in this partnership, including the ability to combine Sanlam’s experience, knowhow, and footprint with Allianz’s broad expertise and global capabilities. The partnership will also enable the joint venture to further strengthen its position in key markets on the continent, by achieving scale as well as improved geographic and product diversification. Ultimately, we believe the joint venture will maximize value creation for both Allianz and Sanlam and their respective stakeholders, leveraging on best practice sharing and leaner operations.”

spot_img
spot_img
spot_img

Hot this week

Stanbic IBTC Bank Budgets N130m in 4th Season of Reward4Saving Promo

Stanbic IBTC Bank, a leading financial services provider in...

STI CEO, Soyinka to Nigerians: Cultivate a Culture of Insurance

The Managing Director and Chief Executive Officer of Sovereign...

Sterling Bank Champions Cancellation of Transfer Charges

In a landmark move that sets a new benchmark...

Stanbic IBTC Bank PMI: Sharpest Rise in New Orders in 14 Months

The recovery in the Nigerian private sector gathered strength...

Barth Nnaji to Deliver The Bullion Lecture 2025

Globally acclaimed energy expert, Professor Barth Nnaji, is to...

Topics

Sanofi Unveils 5 Winners of AfriTech 2020

Sanofi, a bio-pharmaceutical company, has announced five winners in...

NEXIM, AFREXIM, ICCO to Revamp Cocoa Sector

“There is a need for cooperation and input from...

Leadway Assurance Maintains Industry Leading Claims Payment with N67bn Paid in 2023   

Leadway Assurance Company Limited has proudly maintained its position...

IATA: Time to Prepare for COVID-19 Vaccine Air Transport is Now

The International Air Transport Association (IATA) urged governments to...

Protein Deficiency in a Pandemic: Top 10 Webinar Takeaways

Why is protein deficiency a growing problem across the...

Niger Insurance Reports N593m Profit, Plans New Business Model

Niger insurance Plc has reported operating profit of N593...

OneFi Acquires Amplify to Reshape Nigeria’s Fintech Infrastructure

Amplified Payments Limited, a fintech company that builds and...
spot_img

Related Articles

Popular Categories

spot_imgspot_img