Sanlam and Allianz Insurance Companies in Ghana receive final no objection from the regulator to merge

The SanlamAllianz Group is pleased to announce that it has received a final no objection from the National Insurance Commission (NIC) to proceed with the planned merger between Sanlam Life Insurance Ghana LTD and Allianz Life Insurance Ghana LTD, as well as Sanlam General Insurance Ghana LTD and Allianz Insurance Ghana LTD.

This follows the announcement in September 2023 of the closing of the SanlamAllianz joint venture, which covers 27 countries across Africa for a combined enterprise value of nearly US$ 2 billion.

An exciting new journey

The merger between Sanlam and Allianz will allow the Ghanaian market to benefit from the combined expertise of two major financial services groups, which are known and recognized on an African and global scale and carry more than 200 years of cumulative experience in Africa and beyond.

“We are confident that our merged businesses in Ghana will create significant value for our clients, shareholders, and other stakeholders. The combined expertise and resources of our respective companies will enable us to provide innovative solutions and services to meet the ever-evolving needs of our clients,” says Heinie Werth, CEO of SanlamAllianz.

The merger is also expected to contribute significantly to the overall development of the Ghanaian insurance market, thanks to an innovative range of products and services adapted to all market segments.

Given the SanlamAllianz Group’s growth strategy and diversified financial services capabilities, the organization’s combined business in Ghana presents various opportunities for operational synergies, creating significant potential for value creation that will benefit the sector, its clients, agents, brokers, and partners, as well as its employees.

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