There are indications that two of the biggest names in global and African non-banking finance and insurance services, Sanlam and Allianz, are set for completion of the expected merger of their operations in Nigeria.
The firms, which have already merged operations in 27 African countries, including Ghana and Rwanda, under the SanlamAllianz banner, are now widely believed to be ramping up their alliance in Nigeria as the next significant step in their partnership.
In 2022, Sanlam and Allianz announced the formation of a strategic joint venture covering 27 African markets. The move was intended to combine Sanlams local market depth with Allianzs global scale and technical expertise, creating a formidable pan-African financial services entity with ambitions to lead in life and general insurance, asset management, and health insurance.
The partnership has taken concrete shape in countries like Ghana, where existing operations have been unified and rebranded under the SanlamAllianz name. The goal has been to offer more relevant, inclusive, and tech-forward financial solutions for individuals and businesses in these markets.