Sanlam and Allianz, two of the world’s leading insurance and financial services groups, have officially unveiled their joint venture brand SanlamAllianz to the Ugandan market at a high-profile event held today at the Kampala Serena Hotel.
Formed in 2023, SanlamAllianz represents Africa’s largest non-banking financial services company. The partnership aims to leverage the global expertise of Allianz and the deep continental experience of Sanlam to unlock growth opportunities across Africa’s high-potential economies.
According to the company, SanlamAllianz’s purpose is “to empower generations to be financially confident, secure and prosperous.”
Speaking at the launch, Ruth Namuli, CEO of SanlamAllianz General Insurance Uganda, and Gary Corbit, CEO of SanlamAllianz Life Insurance Uganda, highlighted the significance of the merger for Uganda’s insurance market and its future trajectory.
Corbit described the partnership as a powerful convergence of global and African strengths. “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,” he said. “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 comes at a time of strong momentum within Uganda’s insurance industry. “The country’s insurance sector demonstrated resilience in 2024, achieving 10% growth in Gross Written Premiums against a supportive macroeconomic backdrop of 6.1% GDP growth. We also see a maturing market, particularly in life insurance, which grew by nearly 15%,” Corbit noted.
Namuli emphasised that the merger will enhance access, innovation, and inclusion. “This union creates a platform to meet the evolving insurance needs of individuals, SMEs, corporates, and institutions across Uganda,” she said. “We promise greater financial inclusion with innovative solutions for underserved segments, and continued investment in local talent, technology, and partnerships.”
Under the SanlamAllianz banner, customers in Uganda will retain all the benefits of their existing policies while gaining access to the backing of a larger, stronger global brand. The company reaffirmed its commitment to developing digital solutions and localised insurance products tailored to the needs of Ugandans.
Alhaj Dr Kaddunabbi Ibrahim Lubega, CEO of the Insurance Regulatory Authority of Uganda, welcomed the new entrant, describing the merger as a timely boost to the industry.
“This partnership brings together global expertise and local strength, which will enhance the capacity of the industry and broaden access to quality insurance services,” he said. “As the regulator, we are encouraged by the commitment to innovation, customer protection, and financial inclusion.”
Uganda’s insurance landscape is currently undergoing rapid transformation, driven by digital integration, sustainability trends, and expanding customer awareness. According to the 2024 Insurance Industry Market Report, global premiums are expected to grow by 3.3% in 2025, spurred by a recovery in life insurance and rising demand for health, liability, and cyber insurance products.
SanlamAllianz’s entry is expected to accelerate these trends locally. The company assured customers that the rebrand will not disrupt existing services but rather deliver broader access to products, enhanced digital engagement, stronger financial security, and localised innovation.