A strategic partnership supporting Africa’s long-term growth

The B20 South Africa 2025 Summit (18–20 November) will bring together global business leaders under the theme “Inclusive Growth and Prosperity through Global Cooperation.” It takes place just ahead of the G20 Summit in South Africa on 22–23 November 2025, the first time an African country hosts one of the world’s most influential economic forums.

For SanlamAllianz, this moment is both symbolic and strategic. It underscores Africa’s growing role in global economic governance and highlights the importance of strong, locally rooted players that can channel long-term capital and expertise into the continent’s real economy.

“Africa is one of the most compelling long-term growth stories in the world,” says Heinie Werth, Chief Executive Officer of SanlamAllianz. “As a pan-African business with deep local roots and global backing, we are building a platform that can translate this potential into tangible benefits for our clients, partners and communities.”

Established in September 2023, SanlamAllianz combines Sanlam Group’s more than 100 years of experience in African markets with Allianz Group’s global insurance and investment expertise, balance sheet strength, and risk management capabilities.

Together, they form Africa’s largest pan-African non-banking financial services provider and a central pillar of Allianz's growth strategy in high-potential emerging markets.

At its core, SanlamAllianz is focused on three key areas: increasing insurance penetration, accelerating product and digital innovation, and promoting financial inclusion for individuals, families, businesses and communities across Africa. Financial inclusion means helping more people and businesses access affordable savings, protection and investment solutions.

Africa is on a path of rapid economic transformation and is increasingly described as a global growth powerhouse. This growth is fueled by improved fundamentals such as a growing middle and upper class, a youthful population, and multi-sectoral growth, which in turn, drive infrastructure development and economic activity.

In fact, pan-African GDP growth is projected to outpace many other regions through 2030, with East and West Africa acting as key engines. By then, the continent is expected to account for nearly 20% of the world’s population, with around 75% of its population under the age of 35. The depth of untapped opportunity, but also scale of risk is visible considering that insurance penetration in many markets is still about 1% of GDP, compared with roughly 6% in Namibia and 4% in Morocco.

In this context, Allianz is strategically positioned to capitalize on this untapped potential with tailored insurance solutions that support sustainable development and empower individuals and businesses.

Since its launch in September 2023, SanlamAllianz has quickly risen to market leadership across its African footprint, turning strategy into concrete results in under two years.

Today, it offers life, health, property-casualty and asset management solutions in 26 countries through a network of physical and digital channels, while steadily unifying the portfolio under a single SanlamAllianz identity. Most integrations are expected to be completed by the end of 2025, with the final integration of Morocco planned for 2026.

Despite a volatile global backdrop, the business has already demonstrated strong momentum, with solid growth in net results and attributable earnings, healthy increases in gross written premiums in both life and general insurance, and a cumulative market share of around 16% across the countries where it operates.

Building on this base, SanlamAllianz has set an ambitious goal: to more than double earnings by 2030 from a 2024 baseline.

“We are deliberately focused on markets with strong economic potential, sound governance and a clear need for our capabilities,” says Heinie Werth. “From that position of strength, we can scale responsibly, deepen financial inclusion and deliver attractive long-term value for our stakeholders.”

At a time when trust in institutions is under pressure globally, SanlamAllianz is positioned to bea source of stability and confidence. Regulators across the continent value the combination of global prudence and local commitment. Corporate brokers recognize and trust the Allianz brand, seeing added value in the partnership with Sanlam for complex and cross-border risks. 

In Morocco, for example, the SanlamAllianz joint venture recently received the African Insurance Trophy at the AFIS Awards 2025 for its growth, innovation and pioneering role, while in Nigeria, SanlamAllianz Nigeria was named “Africa’s Most Visible Insurance Company of the Year,” underlining the joint venture’s growing profile in two of the continent’s largest markets.

SanlamAllianz’s role in B20 South Africa 2025 is a natural extension of its broader strategic priorities on the continent.

1. Financial access and inclusion

SanlamAllianz’s purpose — to empower generations to be financially confident, secure and prosperous — sits at the heart of its growth plans. The joint venture is expanding access to life, health, savings, and protection solutions for individuals and micro, small and medium-sized enterprises by leveraging strong bancassurance partnerships, optimized agency networks, and digital channels that make products available and affordable.

2. Digital transformation

Digital transformation is another core priority. By using data, analytics and digital tools, SanlamAllianz is designing more relevant, affordable products and improving customer experience at every touchpoint. It is also building ecosystems and partnerships that embed insurance and investment solutions into everyday digital journeys.

3. Sustainability and a just transition

SanlamAllianz and its shareholders also integrate environmental, social and governance (ESG) considerations into strategy and operations, investing in infrastructure, clean energy, food security and social assets, supporting a just transition in emerging markets — particularly in Africa — and working with partners to mobilize capital for projects that create jobs, enhance resilience and deliver long-term value. 

A “just transition” means shifting to a lower-carbon, more resilient economy in a way that is fair, protects livelihoods and includes vulnerable communities.

As the world turns its attention to the G20 Summit in South Africa, SanlamAllianz reaffirms a simple message: Africa’s future is central to global growth — and SanlamAllianz is committed to helping shape it.

“We believe in the potential of this continent and in the power of partnership,” says Heinie Werth. “SanlamAllianz is here for the long term — to support growth, deepen trust and help ensure that prosperity in Africa is inclusive and sustainable for generations to come.”