SanlamAllianz, the pan-African insurance powerhouse jointly owned by Sanlam and Allianz, has unveiled ambitious plans to more than double its earnings by 2030, as it strengthens its leadership position across the continent’s insurance landscape.
Speaking at the group’s 2025 Capital Markets Day, themed “Leveraging Quality, Accelerating Growth,” SanlamAllianz Chief Executive Officer Heinie Werth described Africa as “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,” Werth said. “SanlamAllianz combines Sanlam’s local expertise with Allianz’s global scale to lead that journey.”
Strong Foundations, Bold Ambitions
Operating in 26 countries, SanlamAllianz holds top-three positions in 18 general and 15 life insurance markets, with a combined 16 percent market share in both segments. The group reported strong results in the first half of 2025, with attributable earnings up 124 percent to R3.8 billion. General insurance premiums rose 8 percent year-on-year to R19.4 billion, while life insurance premiums grew 10 percent to R13.4 billion.
Africa’s Growth Potential
Africa’s economic outlook remains robust, with East and West Africa expected to drive growth into 2030. With 70 percent of the population under 35 and mobile penetration at 89 percent, the continent presents vast opportunities for expanding financial inclusion and insurance access.
Werth emphasized that SanlamAllianz is well-positioned to capitalize on these trends by “delivering relevant products, scaling smart distribution, and building digital ecosystems that bring insurance within reach of millions more Africans.”
Strategic Roadmap to 2030
SanlamAllianz’s growth strategy aims to:
- Fully integrate the Sanlam and Allianz operations to unlock synergies;
- Defend and expand market share to maintain top-three positions across key markets;
- Enter high-potential new markets while exiting unprofitable ones;
- Strengthen bancassurance partnerships and agency networks; and
- Improve cost and capital efficiency through innovation and shared expertise.
Meanwhile, the Sanlam Group reaffirmed its position as a leading financial services provider in emerging markets, outlining its next phase of growth anchored on three strategic pillars:
- Strengthening its South African market position through innovation and partnerships such as TymeBank;
- Scaling international operations via its long-term partnerships in India and Africa, and its recent entry into the Lloyd’s market through Syndicate 1918; and
- Embedding sustainability by promoting financial inclusion, skills development, and climate resilience.
The Group said it remains committed to delivering sustainable, long-term value for clients, shareholders, and stakeholders across its markets.
