Sanlamallianz

What Sanlamallianz does

SanlamAllianz is a pan-African financial services group formed in September 2023 as a joint venture between Sanlam (South Africa, Africa's largest non-banking financial services group) and Allianz (Germany, global insurance leader), headquartered in Bellville (Cape Town), South Africa. The company operates across 25 African countries, with positions strengthened in 12 overlapping markets, and is structured across multiple legal entities (including SanlamAllianz Life Insurance Plc and SanlamAllianz General Insurance Plc in Rwanda, and corresponding Uganda entities).

The company operates a multi-line financial services platform spanning Life Insurance (individual and group products including education, retirement, funeral, and credit life cover), General Insurance (motor, home, travel, commercial, liability, engineering, and specialty lines), Asset Management (through leading investment businesses in Namibia, Botswana, Zimbabwe, Zambia, Malawi, Kenya, and Uganda), Retail Credit (via Letshego Holdings and Capricorn Investment Holdings), Assistance Services (through the Africa First Assist subsidiary operating in 18 countries with a 460,000+ global service provider network), and Third-Party Administration (via MCI Care). Distribution is omnichannel — direct branch networks, 8 agency offices in Uganda alone, bancassurance, brokers and intermediaries, and digital self-service platforms including Sanlam Auctions (ISO 9001:2015 certified) and a digital sticker interface for motor insurance. Underlying technology is described as an insurance and financial services platform with AI-enabled processes and digital innovation capabilities, though technical specifics are not disclosed.

The revenue model is dominated by recurring insurance premiums across life, general, and group lines, supplemented by asset management fees, third-party administration fees, retail credit income, and assistance service fees. Pricing varies by country and product — individual life premiums start from UGX 30,000–50,000 with policy terms of 5–20 years, while group schemes require minimums of 5–20 lives. The company serves four primary segments: Individual/Retail customers, Corporate/Business clients, Multinationals, and Investors/Wealth clients, with inclusive insurance extending reach to lower-income populations. The group is led by CEO Heinie Werth (appointed September 2023) with oversight from a board comprising both Sanlam and Allianz representatives.

Name

Sanlamallianz

Legal name

SanlamAllianz

Website

https://sanlamallianz.com

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

SanlamAllianz is a pan-African joint venture between Sanlam and Allianz offering life insurance, general insurance, asset management, retail credit, and assistance services across 25 African countries, serving individual, corporate, and multinational clients.

Ownership category

akta.pro rank

Product category

Multi-line Insurance and Financial Services

NAICS

Direct Life, Health, and Medical Insurance Carriers (52411), Portfolio Management and Investment Advice (523940), Insurance Agencies and Brokerages (524210)

SIC

Life Insurance (6311), Fire, Marine & Casualty Insurance (6331), Hospital & Medical Service Plans (6324)

akta.pro primary industry

Whole Life Insurance (FSAIABAA)

akta.pro secondary industries

Large Commercial Package (National Accounts) (FSAJAFAC), Commercial General Liability (CGL) (FSAJADAA)

Keywords

• Life insurance products
• General insurance coverage
• Asset management services
• Retail credit services
• Insurance assistance services

Headquarters

HQ city

Cape Town

HQ country

South Africa

HQ region

Africa

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Life Insurance Premiums: Recurring premium income from individual and group life insurance products including term life, whole life, education plans, retirement plans, and credit life assurance
2. General Insurance Premiums: Premium income from general insurance products including motor, property, travel, health, assistance, commercial and corporate insurance, and reinsurance
3. Asset Management Fees: Asset management capabilities and services provided through leading investment management businesses in Namibia, Botswana, Zimbabwe, Zambia, Malawi, Kenya and Uganda
4. Third-Party Administration: Healthcare management and third-party administration services through MCI Care, providing policyholders access to services while ensuring insurers control healthcare expenses
5. Retail Credit Services: Retail credit provision via Letshego Holdings (Botswana, 11 businesses across Africa) and Capricorn Investment Holdings (Namibia)

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels5 records

Core offering

SanlamAllianz is a pan-African financial services group that sells life insurance (individual and group), general insurance (motor, home, travel, commercial, corporate), asset management, retail credit, and assistance services. Operating across 25 African countries through a joint venture of Sanlam and Allianz, the company provides protection, savings, investment, and credit products to both individual consumers and corporate clients.

Product overview

SanlamAllianz is a pan-African financial services champion formed in September 2023 through the combination of Sanlam (Africa's largest non-banking financial services group) and Allianz (global insurance leader). The company operates as a multi-line financial services platform offering a broad portfolio of insurance and asset management products across 25 African countries. The core product portfolio includes Life Insurance (individual and collective products for protection, savings, education, and retirement), General Insurance (motor, home, travel, assistance, commercial, corporate, specialist, and reinsurance), Asset Management (through subsidiaries in Namibia, Botswana, Zimbabwe, Zambia, Malawi, Kenya, and Uganda), Retail Credit (via Letshego Holdings and Capricorn Investment Holdings), and Assistance Services (Africa First Assist subsidiary). The company also operates digital platforms including Sanlam Auctions (online salvage bidding) and digital sticker services. Key individual life products include Comprehensive Life Program, Education Protection Plan, PAMOJA Plan, Child Star Plan, and Dreambuilder Plan. Corporate life products include Group Life Assurance, Group Last Expense Cover, Group Credit Life Assurance Cover, Sancare Medical Scheme, and Inclusive Insurance. General insurance products span motor, home, travel, all-risk, fire, burglary, liability, goods in transit, professional indemnity, workers compensation, fidelity guarantee, D&O, employers liability, electronic equipment, plate glass, and engineering insurance (boiler, machinery breakdown, erection all risks, contractors all risks).

Differentiator

Problem solved

Functional benefit

Brands

• Africa First Assist: Leading automobile assistance company in Africa with presence in 18 countries
• MCI Care
• Sancare Medical Scheme
• Dreambuilder Plan
• Child Star Plan
• Pamoja Plan
• Education Protection Plan
• Comprehensive Life Program
• Ubwishingizi Intego
• Retirement Plan
• Funeral Insurance
• Savings Insurance
• Ngobokamuryango

Products and services

• Comprehensive Life Program Family life insurance program for individuals providing funeral cover, family income cover, double accident cover, cash back benefits, and waiver of premium benefits for policyholder and family members, with minimum policy premium of UGX 30,000.
• Education Protection Plan Education-focused individual life insurance plan delivering 200% of sum assured at maturity with structured payments over four years, with coverage limits up to UGX 950 million.
• PAMOJA Plan Personal life insurance plan for long-term and short-term saving objectives with additional risk cover for physical incapacity and loss of life, available for ages 18-65 with coverage up to age 75.
• Child Star Plan Personal life insurance plan for saving for children's education costs with flexible maturity payment options over 3, 4, or 5 years, with minimum sum assured of UGX 5,000,000.
• Dreambuilder Plan Personal savings and life insurance plan for future needs such as business, asset purchase, or retirement, with savings and life components over a 5 to 20 year policy term, minimum sum assured UGX 5,000,000 and maximum UGX 40 million.
• Group Life Assurance Corporate group life insurance policy providing life insurance benefits for employees covering death, disablement, and critical illness, with minimum group size of 5 people, including funeral benefit, school fees benefits, and permanent/total disability coverage.
• Group Last Expense Cover Corporate employee benefit providing lump sum benefit following death of insured employee and family members from natural and accidental causes, with minimum 20 principal members required.
• Group Credit Life Assurance Cover Corporate credit life policy securing loan portfolios of banks, micro finance institutions, hire purchase lenders and SACCOs against non-payment due to accidental death, natural death, disability, critical illness, and retrenchment.
• Sancare Medical Scheme Comprehensive corporate medical insurance plan covering inpatient, outpatient, dental, optical, psychiatric treatment, maternity, pediatric care, chronic conditions, and emergency evacuation to Kenya, India, and South Africa, with minimum 20 lives required.
• Inclusive Insurance Affordable financial solutions developed to bridge insurance and investment gap for clients regardless of income level or socio-economic status through strategic partnerships.
• Motor Vehicle Insurance Comprehensive vehicle coverage for loss and damage from accidents, fire and theft, including windscreen replacement and third-party liability for injuries and property damage.
• Home Insurance Home and contents insurance for individuals covering theft, fire, freezer contents, loss of rent, alternative accommodation, debris removal, and domestic workers.
• Travel Insurance Travel insurance covering loss of baggage, medical expenses, loss of money, and personal accident, with premiums based on travel duration.
• All Risk Insurance (Individuals) Comprehensive insurance for individuals covering valuable personal belongings such as jewellery, clothing, laptop, and cell phone, including mobility benefit for items used away from premises.
• Fire and Allied Perils Corporate property insurance protecting against damage or loss from accidental fire, explosion, and lightning, extendable to storm, earthquake, riot, water damage, impact, and malicious damage.
• Money Policy Corporate coverage for losses of money or securities while in transit to and from bank, cash on business premises, and private residence when forceful entry has been applied.
• Burglary Insurance Corporate protection against loss of valuable properties including assets, stock, and merchandise arising from direct forcible and violent entry into or exit from business premises.
• Public/Products Liability Corporate coverage for legal liability to third parties resulting from insured's negligence and supply of dangerous products causing property damage, bodily injury, or death.
• Goods in Transit Corporate coverage for insured goods against inland transit risks by road or rail conveyance.
• Professional Indemnity Coverage for professionals against legal liabilities to persons who incur financial loss or sustain personal injuries due to their professional negligence.
• Personal Accident Insurance (Corporate) Corporate coverage for employees against accidental, visible, and violent personal injuries, disabilities, or death arising from external causes on a 24-hour basis.
• Worker's Compensation Policy Corporate coverage for employees in event of death or injury sustained whilst in the course of their employment as stipulated under the Workers Compensation Act 2000.
• Fidelity Guarantee Policy Corporate coverage against loss of money, negotiable instruments, or goods resulting from acts of dishonesty and infidelity of employees during the policy period.
• Directors & Officers Insurance Corporate policy indemnifying directors and officers against claims made during the period of insurance for loss arising from actual or alleged wrongful acts.
• Employers Liability Corporate policy providing indemnity against legal liability under common law for death or bodily injury by accident or disease of persons employed under contract of service.
• Electronic Equipment Insurance Comprehensive corporate coverage against unforeseen and sudden physical loss or damage to electronic equipment and data media including computers, microprocessors, and systems software.
• Plate Glass, Neon Signs, Counter Glasses Insurance Corporate insurance for plate glasses in showrooms, offices, or buildings on an all risks basis for any glass broken by accident or misfortune.
• House Owners/House Holders Insurance Corporate insurance package covering accidental loss or damage to residential homes and contents including valuable items, incorporating personal liability for household members.
• Machinery Breakdown Insurance Corporate coverage against unforeseen and sudden physical loss or damage to machinery by any cause subject to excepted risks for manufacturing and industrial units.
• Boiler & Pressure Vessels Insurance Corporate accident insurance for boilers and pressure vessels used in steam power stations and factories, covering risks of explosion and collapse.
• Erection All Risks Corporate insurance covering loss or damage to projects involving erection or installation of plant, machinery, and equipment ranging from single machines to large power plants.
• Contractors All Risks Corporate insurance covering physical loss or damage to building works, advanced loss of revenue, public liability, installation and constructional plant/machinery including hired-in plant and tools.
• Contractors Plant & Machinery Insurance Corporate comprehensive cover against physical loss or damage to plant and machinery due to any cause other than those specifically excluded in the policy.
• All Risk (Corporate) Corporate coverage for loss or damage of valuables and portable items in homes and offices against all risks except specifically excluded items.
• Asset Management Asset management services provided through leading investment management businesses in Namibia, Botswana, Zimbabwe, Zambia, Malawi, Kenya, and Uganda.
• Retail Credit Retail credit services provided via Letshego Holdings (Botswana, with 11 businesses across the African continent) and Capricorn Investment Holdings (Namibia).
• Africa First Assist Automobile and general assistance subsidiary offering medical, car, travel, and life assistance across 18 African countries through a network of more than 460,000 service providers worldwide via its partnership with Mondial Assistance Groupe.
• MCI Care (Third-Party Administration) Third-party administration service operating under a single brand, providing policyholders easy access to innovative healthcare services and quality care while ensuring insurers have control over healthcare expenses.
• Sanlam Auctions Online salvage bidding platform for used and salvage vehicles, offering 100% online bidding with a digital sticker interface for motor insurance purchases, ISO 9001:2015 certified.

Quantifiable outcome

• Top-three market position in majority of operating markets
• +1 more outcomes

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Africa First AssistcoreStrategic or Co-development PartnerAfrica First Assist is a subsidiary of SanlamAllianz operating as the leading automobile assistance company in Africa with presence in 18 countries. Through a network of more than 460,000 service providers worldwide and its partnership with Mondial Assistance Groupe, Africa First Assist offers medical, car, travel and life assistance products and services.
• Mondial Assistance GroupecoreStrategic or Co-development PartnerPartnership with Mondial Assistance Groupe provides Africa First Assist access to global assistance services and network of 460,000+ service providers for delivering medical, car, travel and life assistance across Africa.
• Letshego HoldingsminorStrategic or Co-development PartnerLetshego Holdings, headquartered in Botswana, operates 11 businesses across the African continent providing retail credit services through SanlamAllianz.
• Capricorn Investment HoldingsminorStrategic or Co-development PartnerCapricorn Investment Holdings based in Namibia provides retail credit services as an associated group of SanlamAllianz.
• MCI CarecoreStrategic or Co-development PartnerMCI Care operates SanlamAllianz's third-party administration activity under a single brand, offering policyholders easy access to innovative services and quality care while ensuring insurers have control over healthcare expenses.

Scale indicators7 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Hollard Insurance Group: Pan-African insurance group with operations in South Africa and multiple other African countries offering life, short-term, and specialty insurance. Direct competitor in the multi-country African insurance market with similar product portfolio and distribution model.
• Liberty Holdings (Standard Bank Group subsidiary): South African-headquartered insurer offering life insurance, investments, and short-term insurance across Africa. Direct competitor with overlapping geographic presence, bancassurance distribution (via Standard Bank), and similar product breadth.
• Momentum Metropolitan Holdings: South African insurance and investment group operating across multiple African markets with life, health, and short-term insurance products. Direct competitor in the pan-African insurance space with overlapping product and country coverage.
• AXA Africa (AXA Group subsidiary): Global insurer with significant African operations offering life and general insurance. Direct competitor with similar multi-country African footprint and global parent backing, comparable to SanlamAllianz's Allianz heritage.
• Old Mutual Limited: Pan-African insurance and financial services group offering life, general, and asset management across multiple African countries. Direct competitor in the same continental footprint with comparable multi-line product suite and similar top-tier market positions.

Others

• Allianz SE (parent/partner): Global insurance parent and JV partner contributing technical expertise and global capabilities. Not a competitor but the parent sharing ownership; relevant as a benchmark for technical standards and capital backing.
• Sanlam Limited (parent/partner): South African financial services parent and JV partner contributing local African market expertise and distribution. Not a competitor but the parent sharing ownership; relevant for understanding capital structure and strategic direction.

Regional players

• Britam Holdings: East African insurance and financial services group operating primarily in Kenya, Uganda, Tanzania, Rwanda, Mozambique, and South Sudan. Regional competitor in East Africa with overlapping life and general insurance products but more limited geographic and capital scale.

Broad incumbents

• Zurich Insurance Group: Global insurer with general insurance and corporate solutions across African markets. Overlaps in commercial and corporate general insurance segments but does not match SanlamAllianz's pan-African life insurance scale.
• Prudential plc (Africa operations): Global insurance leader with selective African life insurance operations. Operates broadly in the same space with overlapping life insurance capabilities across parts of Africa, though more limited footprint than SanlamAllianz.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/allianz-sanlam

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sanlamallianz