Overview:
SanlamAllianz, Africa's largest non-banking financial firm, officially launched its joint brand in Kampala, bringing over 200 years of expertise to Uganda's insurance sector to drive financial inclusion and innovation.
KAMPALA, Uganda — Insurance giants Sanlam and Allianz officially introduced their joint brand, SanlamAllianz, to the Ugandan public Tuesday, asserting the merger creates an “African powerhouse” ready to reshape the local insurance landscape.
The launch, held at the Kampala Serena Hotel, follows the 2023 formation of SanlamAllianz, which became Africa’s largest non-banking financial services company. The entity plans to use its continental and global scale to drive growth across Africa’s high-potential markets.
Gary Corbit, chief executive officer of SanlamAllianz Life Insurance Uganda, said the merger was timed perfectly to align with positive trends in the Ugandan market.
“By combining Sanlam’s deep continental expertise and robust footprint with Allianz’s global scale, financial strength, and legacy, we are creating an African powerhouse,” Corbit said. “We are bringing together more than 200 years of collective experience to Uganda, and we are here to set a new, higher benchmark for innovation and customer value.”
Corbit noted that Uganda’s insurance sector showed resilience in 2024, recording 10% growth in Gross Written Premiums against a supportive 6.1% GDP growth. He added that the life insurance market grew at a strong rate of nearly 15%.
Ruth Namuli, chief executive officer of SanlamAllianz General Insurance Uganda, stressed the company’s commitment to wider access.
“We promise greater financial inclusion with innovative solutions for underserved segments of the population and sector growth through investing in local talent, technology and partnerships,” Namuli said. The union will help meet the complex insurance needs of individuals, small to medium-sized enterprises and larger corporations.
The Insurance Regulatory Authority of Uganda welcomed the partnership. Alhaj Dr. Kaddunabbi Ibrahim Lubega, CEO of the regulatory body, said the joint venture “brings together global expertise and local strength, which will not only enhance the capacity of the industry but also broaden access to quality insurance services for Ugandans.”
Customers will maintain all existing policy benefits under the new brand and can expect greater access to a wider range of solutions and enhanced digital platforms.