Sanlam, Africa’s largest non-banking financial services provider, is teaming up with global insurance giant Allianz to create a joint venture to offer banking, insurance and loans in 27 African countries. The venture, called SanlamAllianz, is expected to have a combined group equity value (GEV) of approximately R35 billion.

The company said their priorities are to offer more financial services to the rapidly growing African continent, as well as to offer property and casualty as well as life insurance offerings.

Heinie Werth, the current CEO of Sanlam Emerging Markets, has been appointed as the CEO of SanlamAllianz. In a career spanning 25 years at Sanlam, Mr Werth has held various executive positions within the group, including that of finance director.

Source : https://www.researchandmarkets.com/issues/finance-insurance-companies-merge-for-new