Insurance: Sanlam-Allianz partnership reshuffles the cards in Francophone Africa

By Aurélie M'Bida, Joël Té-Léssia Assoko
Posted on Thursday, 5 May 2022 19:18

The logo of Sanlam, South Africa's largest insurer, is seen outside the company's headquarters in Cape Town, South Africa, March 12, 2020 © Mike Hutchings/REUTERS

In a press release dated 4 May, the German group Allianz announced that it had entered into a partnership with the pan-African giant Sanlam in order to form a joint venture that will bring together their assets on the continent, excluding South Africa.

Several scenarios – ranging from a global alliance to the signing of several separate agreements depending on the geographical area – had been evoked in the African markets since the announcement, in December 2021, of the opening of discussions on the formation of a “strategic partnership” between the Munich-based colossus (revenue of €148.5bn [$156.1bn]  in 2021) and the African insurance leader ($9bn in revenue in 2020).

This joint venture will be the largest pan-African insurance player

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