Sanlam and Allianz, two of the world’s largest insurance and financial services groups, have officially launched their joint venture brand, SanlamAllianz, to the Ugandan market at a ceremony held at the Kampala Serena Hotel.
The launch follows the 2023 merger between the two firms, creating Africa’s largest non-banking financial services company. The new entity aims to harness both partners’ global and Pan-African strengths to accelerate growth in Africa’s high-potential markets while empowering future generations to achieve financial confidence, security, and prosperity.
Speaking at the event, Ruth Namuli, CEO of SanlamAllianz General Insurance Uganda, and Gary Corbit, CEO of SanlamAllianz Life Insurance Uganda, outlined the significance of the merger for Uganda’s insurance landscape and the broader regional market.
Corbit described the merger as a landmark move for the industry, saying:
“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. We are bringing together over 200 years of collective experience to Uganda, and we are here to set a new, higher benchmark for innovation and customer value.”
He added that the merger is well-timed, coinciding with steady growth in Uganda’s insurance industry.
“The sector demonstrated resilience in 2024, recording 10% growth in Gross Written Premiums (GWP) supported by 6.1% GDP expansion. We’re also seeing a maturing market, particularly in life insurance, which grew nearly 15% last year,” Corbit noted.
Under the new SanlamAllianz brand, customers will retain all existing policy benefits with added security from the joint venture’s enhanced global backing. The company plans to continue investing in digital transformation and tailor-made products to meet the evolving needs of Ugandan clients.
Namuli emphasized the company’s focus on inclusion and local empowerment:
“This union creates a stronger platform to serve individuals, SMEs, corporates, and institutions across Uganda. We are committed to advancing financial inclusion with innovative solutions for underserved communities, while fostering sector growth through investment in local talent, technology, and strategic partnerships.”
Uganda’s insurance industry is in a period of rapid transformation, driven by technology adoption and a growing focus on sustainability.
According to the 2024 Annual Insurance Industry Market Report, global premiums are expected to expand by 3.3% in 2025, fueled by a rebound in life insurance and rising demand for health, liability, and cyber coverage.
Alhaj Dr. Kaddunabbi Ibrahim Lubega, CEO of the Insurance Regulatory Authority of Uganda (IRAU), commended the partnership for enhancing the sector’s capacity and resilience.
“This partnership brings together global expertise and local strength. It will expand access to quality insurance services and drive innovation, customer protection, and financial inclusion,” Dr. Lubega said.
SanlamAllianz has assured policyholders that the rebrand will not affect existing services or benefits. Instead, customers can look forward to broader product options, improved digital platforms, enhanced claims reliability, and solutions designed for Uganda’s dynamic insurance market.
