L- Managing Director/Chief Executive Officer, Sanlam Life Insurance Nigeria Limited Tunde Mimiko Sanlam Pan Africa (SPA) Life Insurance Cluster CEO Robert Dommisse and Managing Director/Chief Executive Officer, Sanlam General Insurance Nigeria Limited, Bode Opadokun in Lagos after the rebranding of FBNInsurance to Sanlam Life Nigeria Limited
By Favour Nnabugwu
Sanlam, Africa’s largest non-banking financial services company, has them acquired FBN Insurance and FBNInsurance Life is now Sanlam Life Insurance Nigeria Limited.
The acquisition give Sanlam Group 100 percent ownership of FBNInsurance
The move supports the Sanlam’s strategy to deliver excellent products and services to clients through direct contact with the Sanlam brand.
The rebrand further supports Sanlam’s efforts to enhance its presence across Africa as well as its ongoing investment in the continent.
The rebranding will apply to the life and general insurance businesses, Sanlam Life Insurance Nigeria Limited and Sanlam General Insurance Nigeria Limited, respectively.
FBN Insurance was started as a JV between Sanlam and FBN Holdings as a life insurer in 2011 and after a successful growth trajectory, expanded into general insurance by establishing FBN General Insurance in 2015.
FBNInsurance grown into a significant insurance player in the market with a strong management team and we look forward to continuing to deliver excellent financial services and value to our clients and stakeholders.
Sanlam Pan Africa (SPA) Life Insurance Cluster CEO Robert Dommisse highlighted Sanlam’s commitment to Nigeria, and the importance of West Africa market to Sanlam.
SPA is the division in Sanlam Emerging Markets, which encompasses Sanlam Group’s businesses in Africa and other emerging markets such as India and Malaysia.
“Nigeria has always been one of the most important markets for the Sanlam Group because the country is such a key economy on the African continent. It has always been imperative that Sanlam has a strong presence and operation in Nigeria.
“We have a good business in the Nigerian market, and we are going to continue invest and grow the operation. It is important for us that we do so under the Sanlam brand so that the existing and potential customers know that they will be getting the full support of the promises we make in the market.
“We’re very excited about the introduction of the Sanlam brand in Nigeria and we believe it’s a great moment in time for us to step forward to show our brand across an array of touch points and have our diverse stakeholders interact positively with the brand in the Nigeria market,” Dommisse said.
Managing Director and Chief Executive Officer, Sanlam Life Insurance Nigeria Limited Tunde Mimiko said, “We look forward to the next exciting chapter of the business under the banner of the Sanlam brand which is committed to continuously promoting consumer access and inclusion in financial services across the African continent.“The introduction of the Sanlam brand is a milestone development for Nigeria. Through our innovative brand offering, we look forward to delivering services that empower generations of Nigerians to be financially secure, confident, and prosperous.”