Sanlam and Allianz, the two insurance giants who formed Africa’s largest non-banking financial services company through a joint venture named SanlamAllianz in 2023, have launched their SanlamAllianz brand in Uganda.
The launch comes as at a time when Uganda’s insurance landscape is undergoing significant transformation, marked by accelerated growth, digital integration, and an increasing focus on sustainability.
Speaking at the launch, Ruth Namuli, CEO of SanlamAllianz General Insurance Uganda, and Gary Corbit, CEO of SanlamAllianz Life Insurance Uganda, shared insights on what the merger means for the local market and the future of insurance in the country.
“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 said
He noted that this merger is well-timed, aligning with the momentum within Uganda’s insurance industry.
Corbit emphasized that the company’s combined capabilities position it to play a defining role in shaping this growth and driving greater inclusion across the market.
“The country’s insurance sector demonstrated resilience in 2024, achieving a solid 10% growth in Gross Written Premiums (GWP) against a supportive macroeconomic backdrop of 6.1% GDP growth. We also see a maturing market, particularly in Life Insurance, which grew at a healthy rate of nearly 15%,” he added.
Under the SanlamAllianz brand, customers in Uganda will continue to enjoy all existing benefits of their policies with the added assurance of a stronger global backing. The company will continue to invest in digital solutions and innovative products tailored to the evolving needs of Ugandans.
“This union is also going to create a platform to meet the evolving insurance needs of individuals, SMEs, corporates and institutions across Uganda. We promise greater financial inclusion with innovative solutions for underserved segments of the population and sector growth through investing in local talent, technology and partnerships,” shared Ruth Namuli, the CEO of SanlamAllianz General Insurance Uganda.
Alhaj Dr. Kaddunabbi Ibrahim Lubega, CEO Insurance Regulatory Authority of Uganda in his remarks welcomed the merger into the market. He said, “This partnership brings together global expertise and local strength, which will not only enhance the capacity of the industry but also broaden access to quality insurance services for Ugandans. As the regulator, we are particularly encouraged by the commitment to innovation, customer protection, and financial inclusion.”
The rebrand will not disrupt existing services or benefits. Instead, customers can expect, greater access to a wider range of insurance solutions, enhanced digital platforms for easier engagement, financial security and claims reliability, and localized product innovation to meet Uganda’s market needs.
