SanlamAllianz Life Insurance Ghana LTD to transform insurance services in Ghana

In a groundbreaking move set to redefine the insurance landscape in Ghana, two leading insurance brands, Sanlam and Allianz, have announced the launch of Sanlam Allianz Life Insurance Ghana Limited. The joint venture aims to deliver excellence in insurance services, boost trust and confidence in the sector, and significantly increase the currently low insurance penetration rates in the country.

Sanlam Allianz Life Insurance Ghana Limited aspires to empower generations in Ghana by leveraging the combined vast global and African experience, expertise, exposure, and strengths of the largest pan-African non-banking financial services group on the continent.

Commitment to Excellence and Innovation

Tawiah Ben-Ahmed, Managing Director of Sanlam Allianz Life Insurance Ghana, emphasized that the launch symbolizes a renewed commitment to excellence, integrity, and innovation. He highlighted the company’s strong dedication to maintaining a client-centric focus and delivering value to all partners through people-centric strategies.

“Our pledge is to create substantial value for all stakeholders by harnessing greater economies of scale, shared knowledge, and a diversified product portfolio. This approach will foster financial security and prosperity, enabling generations in Ghana to live with confidence,” Ben-Ahmed stated. “We are focused on creating a supportive workplace where our people can grow and contribute to our shared success,” he added.

Expanding Reach and Financial Inclusion

Robert Dommisse, Chief Executive of Sanlam Allianz Life Insurance, revealed that the company’s operations in Ghana will encompass both life and general insurance businesses. Under the new brand, the entities will operate as Sanlam Allianz Life Insurance Ghana LTD and Sanlam Allianz General Insurance Ghana LTD.

Dommisse explained that the launch aligns with the company’s objectives to expand its reach in emerging markets and support financial inclusion through innovative and diverse financial services. “We aim to touch more lives by empowering generations to be financially secure and creating shared value for all stakeholders,” he said.

Dommisse also emphasized the importance of leveraging combined economies of scale, greater distribution opportunities, shared knowledge, and existing partnerships in telecommunications and bancassurance to benefit customers. “We believe everyone has the right to access appropriate financial services. Our ambition is to harness the potential of this joint venture to improve insurance and financial services penetration, enabling more people to access financial services anytime, anywhere,” he affirmed.

Contributing to Economic Growth

The CEO underscored the imperative for organizations like Sanlam Allianz to contribute to job creation, particularly for young people, and to develop financial services skills within the economy. This, he noted, would enable small businesses to flourish, thereby bolstering Ghana’s role in African trade and the broader global economy.

With this joint venture, Sanlam and Allianz are poised to set a new standard in the Ghanaian insurance industry, driving growth, enhancing customer experience, and fostering economic development across the nation.