Ghana’s Insurance sector is expected to witness a stronger growth with a partnership of two key global players henceforth.

This follows the approval by the National Insurance Commission for Sanlam and Allianz Insurance to form a Joint Venture to operate in Ghana. This move will see the two global players come together to provide insurance packages for the industry.

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 Ghana at an event hosted in Accra. 

Sanlam Allianz Life Insurance Ghana LTD (“SanlamAllianz Life Insurance Ghana”) and Sanlam Allianz General Insurance Ghana LTD (“SanlamAllianz General Insurance Ghana”) are among the first SanlamAllianz businesses to showcase the joint venture brand.

The CEOs of the two businesses are Tawiah Ben-Ahmed, Chief Executive Officer/MD of SanlamAllianz Life Insurance Ghana, and Mabel Nana Nyarkoa Porbley, Chief Executive Officer/MD of SanlamAllianz General Insurance Ghana.

 SanlamAllianz’s ambition is to leverage its global and pan-African expertise and unlock growth in Africa’s high potential economies, in line with its purpose to empower generations to be financially confident, secure and prosperous. This will be achieved through supporting financial inclusion through innovative and diverse financial services that create shared value for all stakeholders.

 SanlamAllianz CEO, Heinie Werth, said: “Launching the SanlamAllianz brand in Ghana marks a new milestone for us as well as the broader financial services market and our commitment to do business in Ghana. It demonstrates our strategy to leverage our emerging markets expertise to create leading businesses in the economies where we choose to operate and supports our intention to enable access to financial services.”

“The joint venture will also leverage the combined economies of scale of our shareholders, Sanlam and Allianz, as well as greater distribution opportunities, shared knowledge, awe nd existing partnerships in telecommunications and bancassurance to benefit our customers,” Mr Werth added.

The Chief Executive Officer/MD of Sanlam Allianz General Insurance Ghana LTD, Mabel Nana Nyarkoa PORBLEY said: "The journey to this point has been truly exciting and fulfilling! and we’re confident that the new Sanlam Allianz General Insurance entity is poised to transform the Ghanaian insurance landscape, delivering unparalleled innovation, convenience and superior service through the combined expertise and synergy of two renowned brands, that seek to give significant value to meet the evolving needs of our staff, clients, partners and all stakeholders".

SanlamAllianz Life Insurance Ghana Board Chair, Dr Isaac Baidoo, said: “This merger is not just a combination of two entities but a union of shared purpose, vision, values, and commitment to excellence. Together, as SanlamAllianz in Ghana, we are uniquely positioned to offer innovative insurance solutions and services services you can trust. Our combined strength and strong governance standards will enable us to better serve our clients and deliver sustained value to all our stakeholders”.

The Chief Executive Officer/MD of Sanlam Allianz Life Insurance Ghana LTD, Tawiah BEN-AHMED, said: "The launch of SanlamAllianz in Ghana, a union between a global giant and an African champion symbolizes a renewed pledge to excellence, integrity, innovation, and strong commitment to sustained positive customer experience and value to our partners driven by people-centricity. Our people will deliver the excellence in insurance services that you deserve leveraging the expertise, experience, exposure and robust IT capabilities of SanlamAllianz Group.”

“SanlamAllianz is the insurer you can trust and have confidence in to pay claims and provide you delightful service experience in your journey to become financially confident. We are filled with optimism and determination to do the right thing, and resolute in our commitment to what is good for all our stakeholders,” Mr Tawiah added.