Sanlam Kenya prepares for proposed rebrand

Expansion & diversification endeavoursExpdivexpansion & diversification:

Expansion & diversification endeavors:

Sanlam Kenya prepares for proposed rebrand:  

Notably, Sanlam Kenya Plc (NSE: SLAM) a listed non-banking financial services has announced that it will hold a virtual Extra-Ordinary General Meeting (EGM) on Thursday, October 9, 2025 to seek shareholder approval for a formal name change to Sanlam Allianz Holdings (Kenya) PLC. The information was released in Nairobi, Kenya on September 17^th, 2025.

The proposed name change is part of a larger, continental business growth strategy following the newly formed joint venture between Sanlam and Allianz, called SanlamAllianz. This partnership combines the two companies’ operations across Africa to form the continent’s largest pan-African non-banking financial services entity.

“The proposed name change is a key step in our alignment with the new SanlamAllianz brand,” said Dr Patrick Tumbo, Group CEO of Sanlam Kenya PLC. “By formally establishing ourselves as Sanlam Allianz Holdings (Kenya) PLC, we are moving to leverage the combined expertise and financial strength of two respected and well-known global brands,” Dr Tumbo expounded.

He explained that ahead of the proposed formal rebrand, which is subject to regulatory and shareholder approvals, Sanlam Kenya will continue to strengthen its foothold as a client-centric business that is both resilient and well-positioned for sustained growth.

“Across Africa, Sanlam and Allianz are leveraging their mutual strengths to unlock synergies and provide clients with best-in-class, innovative insurance solutions and technical excellence. This creates value for its stakeholders through greater economies of scale, broader geographic presence, larger combined market share, and a more diversified product offering,” he added.

SanlamAllianz operates in 26 countries and holds a combined total group equity value of over K sh 243.87 billiob (B) (33 B South African Rand & approximately 2 B Euros).

Financial highlights

Ahead of the proposed formal rebrand, Sanlam Kenya has demonstrated steady insurance revenue growth in recent months. As of 30 June 2025, the company reported the following key highlights:

• Insurance revenue growth: Reaching K Sh 3.73 Billion (B), up from K Sh 3.52 B.
• Solid solvency rates: Sanlam Life Insurance and Sanlam General Insurance reported solvency rates of 220 per cent and 194 per cent, respectively, at the end of the period.
• Increased total assets: Rising to K Sh 41.3 billion (B) from K Sh 39.2 B as of December 31, 2024.

Additionally, a recent Rights Issue successfully raised the company’s issued share capital to K sh 3.22 B, with shareholders’ funds more than doubling to K sh 3.85 B. This has significantly strengthened the company’s capital base and solvency, positioning it for continued growth and innovation.

Remarkably, Sanlam is a pan-African financial services group listed on the Johannesburg, Namibian and A2X stock exchanges. Through its clusters: Life and Savings encompassing Retail Mass, Retail Affluent and Corporate business units; Sanlam Emerging Markets; Sanlam Investment Group; and Santam, the Group provides comprehensive and bespoke financial solutions to institutional clients and consumers across all market segments.

Sanlam’s areas of expertise include life and general insurance, financial planning, retirement, investments, and wealth management. Established in 1918 as a life insurance company, Sanlam has evolved into one of the the largest non- banking financial services group in Africa through its diversification strategy. Headquartered in South Africa, Sanlam has a direct stake in financial services entities in Namibia, Botswana, Swaziland, Zimbabwe, Mozambique, Mauritius, Malawi, Zambia, Tanzania, Rwanda, Uganda, Kenya and Nigeria.

The Group has a footprint of insurance operations in Morocco, Angola, Algeria, Tunisia, Ghana, Niger, Mali, Senegal, Guinea, Burkina Faso, Cote D’Ivoire, Togo, Benin, Cameroon, Gabon & Republic of the Congo, Madagascar, Burundi, and Lesotho. Sanlam also has insurance business interests in India, Malaysia and the United Kingdom and also in the USA, Australia, and the Philippines & Lebanon. {Ends}