SanlamAllianz, the pan-African joint venture between Sanlam and Allianz, with strong presence in Nigeria aims to more than double earnings by 2030, reinforcing its position as the continent’s premier insurance group outside South Africa.
Heinie Werth, SanlamAllianz CEO who spoke during the 2025 Capital Markets Day of the Group with the Thememe: “Leveraging Quality, Accelerating Growth said: “Africa represents one of the most compelling long-term growth opportunities in the global insurance landscape.
“With low penetration, strong GDP growth and a youthful, digitally connected population, the continent is poised for transformation. SanlamAllianz combines Sanlam’s local expertise with Allianz’s global scale to lead that journey.”
Standing on strong foundations, SanlamAllianz is executing bold ambitions from a position of undeniable strength. As Africa’s largest insurer, it operates in 26 countries, commanding top-three positions in 18 general and 15 life insurance markets. With a 16 percent market share in both segments, SanlamAllianz is not just present in Africa, it is a market leader.
In the first half of 2025, the SanlamAllianz business delivered strong results despite a volatile macroeconomic environment, with attributable earnings rising 124 percent to 3.8 billion South Africa rubies; General insurance premiums increased by 8 percent year-on-year to R19.4 billion; and Life insurance premiums grew 10 percent to R13.4 billion.
Africa’s GDP growth trajectory exceeds most global regions, with East and West Africa expected to be the main engines into 2030. At the same time, the continent’s young population, with 70 percent under the age of 35, and mobile penetration of 89 percent, is creating unprecedented opportunities for financial inclusion.
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Werth noted, “The fundamentals are compelling: strong GDP growth, low insurance penetration, and a booming, youthful population. SanlamAllianz is primed to turn this potential into sustained value, by delivering relevant products, scaling smart distribution, and building digital ecosystems that bring insurance within reach of millions more Africans.”
On growth strategy, SanlamAllianz aims to more than double earnings by 2030, driven by completing integration of the Sanlam and Allianz businesses and capturing synergies across its footprint; Defending and growing market share, with a focus on achieving and retaining top three positions in each market; Selectively entering new high-potential markets and exiting unattractive ones; enhancing bancassurance partnerships and agency networks; and driving cost and capital efficiencies through shared expertise and innovation.
The Sanlam Group has also reaffirmed its growth strategy and position as a leading financial services group in the emerging markets.
The 2025 Capital Markets Day event highlighted Sanlam’s strong foundations, ambitious growth vectors and commitment to deliver sustainable, long-term value for clients, shareholders and diverse stakeholders.
Sanlam outlined the next chapter of its growth towards 2030, which is built on three strategic pillars:
Strengthening market positioning in South Africa by enhancing ecosystems through innovations such as the Sanlam Group App and deepening partnerships with TymeBank which was recently recognised by TIME Magazine as one of the world’s most influential companies.
Scaling international growth through its 20-plus-year partnership with Shriram in India, the pan-African SanlamAllianz joint venture and entry into the Lloyd’s market via Syndicate 1918, a nod to the founding year of Sanlam’s short-term insurer Santam.
Embedding sustainability through which financial inclusion, skills development and climate resilience are integrated into all business practices.
Sanlam executives outlined how the Group will leverage high-growth opportunities across core markets:
