Insurance & Investment Solutions

1. What are the specifics of the initial SanlamAllianz joint venture transaction? What is the rationale behind this operation?

On 5 September 2023, Sanlam, the largest non-banking financial services company in Africa, and Allianz, one of the world’s leading insurers and asset managers with a century of history in Africa, combined their current and future operations across Africa to create the largest pan-African non-banking financial services entity on the continent (excluding South Africa).

2. What is the structure of the strategic partnership?

The parties have agreed to combine their current and future operations across Africa to create a leading services entity operating across the continent, which is to be called SanlamAllianz.
The joint venture houses the insurance (Life & General), assistance, Third-party Administration, Asset Management and associated credit (via two associated groups) businesses of both Allianz and Sanlam in the African countries where one or both companies have a presence.

3. What are the strategic benefits for the business of entering into the proposed operation?

4. How does the merger affect the Kenyan entities?

Jubilee Allianz is now part of Sanlam Allianz and has merged with Sanlam General with the combined entity operating as Sanlam Allianz General Insurance (Kenya) Ltd.
Concurrently, Sanlam Life is now operating as Sanlam Allianz Life Insurance (Kenya) Limited

5. How will the merger affect our existing contracts or service level agreements?

All contracts issued by the two companies remain valid. We will continue to honor our commitments to you and to our customers in general, and we will continue to deliver the quality of service that Sanlam and Allianz are known for globally.

6. How can we benefit from the merger as clients?

Our merged entities combine the expertise and financial strength of two respected, well-known and best-of-breed brands.
As our valued client, you will have access to an extended range of best-in-class, innovative general insurance solutions and technical excellence. You will also benefit from a more diversified product offering, more advanced service delivery systems, enhanced skills and knowledge, better risk management solutions, and ultimately an enhanced client experience – from distribution to assistance – as our merged entity builds on a stronger ecosystem of partners.

7. Will there be any changes to our service levels or pricing?

We remain fully committed to honoring all our existing commitments. The creation of our merged entities will not affect our dedication to providing you with excellent service.

8. What will the impact of the merger be on our relationship with the merging entity?

The merger will maintain communication and collaboration with clients to ensure a smooth transition and to address any concerns or questions.

9. How will the merged entity address any potential disruptions to our services or products?

The merged entity will have plans in place to mitigate any potential disruptions to services or products, and clients will be updated timeously.

10. What is the impact for us as partners / intermediaries / advisers and brokers?

You will have access to an extended range of best- in-class, innovative insurance solutions and technical excellence. You will also benefit from a more diversified product offering, more advanced service delivery systems, enhanced skills and knowledge, better risk management solutions, and ultimately an enhanced client experience from distribution to assistance, as our merged entity builds on a stronger ecosystem of partners.

11. Will this affect the businesses?

As a merged entity, we are committed to achieving a leading position in insurance in the Kenyan market, and we are planning multiple strategic initiatives, which should create more and new business opportunities and attract more clients. Clients will also be able to invest in new, innovative channels and have access to best-in-class insurance solutions and technical excellence.

12. What are the next steps?

Our current key focus is to combine, integrate and align our businesses in the best possible way in 2025.
You remain a valued stakeholder to us and our commitment to you remains unchanged. Please be assured that our teams remain in place to provide you and our clients with the highest level of service.

13. How will the merger affect our relationship with the parties involved?

14. How will this affect my current insurance policy, and will I need to sign a new policy?

Your current policy remains in effect, and if any updates become necessary, we will inform you well in advance.

15. Will my premiums change because of this merger?

Your premium rates will remain unchanged for the duration of your current policy term. Any future adjustments will be made in accordance with the standard renewal process and applicable regulatory guidelines.

16. What happens to my personal data and privacy?

Your data privacy remains our top priority. Both companies are fully compliant with Kenya’s Data Protection laws and are committed to safeguarding your information at every stage.

17. What are the official contact details of the newly merged entities?