Sanlam and Allianz announced that they will combine their current and future operations, to create the largest Pan-African non-banking financial services entity on the continent. The Joint Venture (JV) will combine the operations of Sanlam and Allianz in 29 countries across the continent. The JV is expected to have a combined total group equity value of more than R33 billion. The partnership aims to increase life and general insurance penetration, accelerate product innovation and drive financial inclusion in high-growth African markets. The agreement is subject to certain Conditions Precedent.
