With a combined 200 years of experience in the insurance industry, Global German insurer, Allianz has formed a joint venture with South African financial firm Sanlam, rebranding into SanlamAllianz, and launching its Ghana subsidiary.
Ghana is now among 27 countries to first do so.
The Sanlam Allianz Life Insurance Ghana LTD, led by Mabel Nana Nyarkoa Porbley and the Sanlam Allianz General Insurance Ghana LTD led by Tawiah Ben-Ahmed officially launched in Accra on Friday, June 26, 2024.
“As SanlamAllianz, we operate among the Top-3 insurance companies in most of our chosen markets through a shared-value approach with our staff, clients, the markets, communities, and economies where we conduct business, as well as our business partners and shareholders,” the company said, noting that its combined market capital of €100 million is a testament to meet clients needs.
Join our WhatsApp Channel for more news
Read More
- Finance Minister Lacks Understanding of Financial Sector Crisis – Head of UCC Business School
- Ghana Faces Extreme Economic Challenges – Finance Minister Admits
- Finance Minister: We are Staying within Our Budget Limits
They are hoping to capture (if not all of the 75% then) around 40% of uninsured Ghanaians, officials said at the event. Ghana’s insurance penetration rate is below 2%, highly considered a low for a country of over 33 million people.
“Together, we can achieve more. This joint venture is founded on a synergy that is both strategic and visionary. This isn’t just about growth; it’s about creating a stronger, more impactful presence in Ghana and across Africa,” said Ms. Porbley.
In 2017 and 2021 Allianz topped the Don Jones Sustainability Index and has been in the top rankings ever since. Robert Dommisse, a CEO in charge of the LIFE division for Sanlam Allianz says they are committed to more sustainable solutions and principles.
“Africa is one of the geographies most vulnerable to the threat of {climate change} but also very under-resourced to deal with it. This reinforces the need to ensure that sustainable and ESG operates at the heart of our strategy and vision. We are committed to working with partners who identify appropriate resources and apply sustainable investment principles to support environmentally and socially responsible practices for the good of Africa.”
