Listed non-banking financial services company Sanlam Kenya Plc(NSE: SLAM) announced that it will hold a virtual Extra-Ordinary General Meeting (EGM) on October 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 Dr 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.”
Dr 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. This creates value for its stakeholders through greater economies of scale, broader geographic presence, larger combined market share, and a more diversified product offering,” he said.
SanlamAllianz operates in 26 countries and holds a combined total group equity value of over 33 billion South African Rand (approximately 2 Billion Euros).
Ahead of the proposed formal rebrand, Sanlam Kenya has demonstrated steady insurance revenue growth in recent months. As of 30 June 2025, the company reported the following key highlights:
Insurance revenue growth hit Sh3.73 Billion, up from Sh.52 b while Sanlam Life Insurance and Sanlam General Insurance reported solvency rates of 220% and 194%, respectively, at the end of the period.
There was increased total assets that hit Sh41.3 billion from Sh39.2 billion as of December 31, 2024.
Additionally, a recent Rights Issue successfully raised the company’s issued share capital to Sh3.22 Billion, with shareholders’ funds more than doubling to Sh3.85 Billion.
This has significantly strengthened the company’s capital base and solvency, positioning it for continued growth and innovation.
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