Home Business SanlamAllianz Group Announces Final Approval for Merger in Ghana

SanlamAllianz Group Announces Final Approval for Merger in Ghana

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The SanlamAllianz Group is thrilled to announce that the National Insurance Commission (NIC) has given its final approval for the 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 approval follows the September 2023 announcement of the SanlamAllianz joint venture, a partnership covering 27 countries across Africa, with a combined enterprise value of nearly US$ 2 billion.

A Promising New Chapter

The merger between Sanlam and Allianz brings a wealth of combined expertise to the Ghanaian market, drawing on the strengths of two globally recognized financial services giants with over 200 years of cumulative experience in Africa and beyond.

“We are confident that our merged operations in Ghana will deliver significant value to our clients, shareholders, and other stakeholders. The combined expertise and resources of our companies will enable us to offer innovative solutions and services tailored to the evolving needs of our clients,” said Heinie Werth, CEO of SanlamAllianz.

The merger is poised to significantly enhance the Ghanaian insurance market by introducing a diverse range of products and services suitable for all market segments. Leveraging the SanlamAllianz Group’s growth strategy and broad financial services capabilities, the merged business in Ghana will create numerous opportunities for operational synergies, driving value creation that benefits the entire sector, including clients, agents, brokers, partners, and employees.

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