Sanlam to seek shareholders' approval on name change

Sanlam Kenya PLC CEO Patrick Tumbo says across Africa, Sanlam and Allianz are leveraging their mutual strengths to provide clients with innovative insurance solutions. [File, Standard]

Financial services company Sanlam Kenya will hold a virtual extraordinary general meeting (EGM) on October 9 to seek shareholder approval for a formal name change to Sanlam Allianz Holdings (Kenya) PLC.

The proposed name change is part of a larger, continental business growth strategy following the newly formed joint venture between Sanlam and Allianz, called SanlamAllianz. This partnership combines the two companies' operations across Africa to form the continent's largest pan-African non-banking financial services entity.

"The proposed name change is a key step in our alignment with the new SanlamAllianz brand," said Patrick Tumbo, Group CEO of Sanlam Kenya PLC. "By formally establishing ourselves as Sanlam Allianz Holdings (Kenya) PLC, we are moving to leverage the combined expertise and financial strength of two respected and well-known global brands."

Tumbo said that, ahead of the proposed formal rebrand, which is subject to regulatory and shareholder approvals, Sanlam Kenya will continue to strengthen its foothold as a client-centric business that is both resilient and well-positioned for sustained growth.

"Across Africa, Sanlam and Allianz are leveraging their mutual strengths to unlock synergies and provide clients with best-in-class, innovative insurance solutions and technical excellence," he said.

"This creates value for its stakeholders through greater economies of scale, broader geographic presence, larger combined market share, and a more diversified product offering."

SanlamAllianz operates in 26 countries and holds a combined total group equity value of over 33 billion South African Rand (Sh244 billion).