Pan Africa Insurance Holdings Limited has on Wednesday rebranded to Sanlam Kenya Plc as it seeks to expand its market.
The Nairobi Securities Exchange (NSE) listed financial services firm with subsidiaries including the Pan Africa Life, Pan Africa Asset Management, Gateway Insurance and PA Securities is also set to be rebranded to Sanlam Life Insurance, Sanlam Investments, Sanlam General Insurance and Sanlam Securities respectively.
Making the announcement in Nairobi, Sanlam Group CEO, Ian Kirk, said that for over 10 years the Group strategy has focused on diversifying our business, investing in smaller, bolt-on deals and partnerships with established businesses in emerging markets, among other priorities.
We have enjoyed a mutually beneficial partnership with PAIHL and believe we are ready to take it to the next level with the rebranding and renaming of the company and its subsidiaries.”
Explaining the essence of the Sanlam brand, Kirk said it represented the Group’s roll-up-your-sleeves, pragmatic approach to doing things, its ethos, and its appreciation for the raw materials with which the company works – clients’ money.
“The Sanlam brand is expressed through our pay-off line, Wealthsmiths™, which is a simple description of what we do and what we believe in. We have a deep understanding that wealth does not come easy – it comes from hard work and dedication and we take our role in this process extremely seriously,” he said.
Speaking at the same event, Sanlam Kenya CEO, Mr Mugo Kibati assured stakeholders of a seamless transition with a differentiated level of client service excellence.
“The rebrand to Sanlam Kenya heralds a new dawn for the diversified financial services firm that we are. It makes us a bigger and better company that is firmly positioned to deliver world-class financial services for the local clientele as well as value for our shareholders and other stakeholders,” Kibati said.
He added that their quest to transform the organisation is to guarantee excellent client service and products as they focus on accelerated organic business growth, while seeking to secure a market leadership position through quality differentiated service provision.
“We have lined up a variety of products to be launched soon to further enhance our range of financial business services on the general insurance and discretionary wealth management fronts. We remain a good and responsible corporate citizen of Kenya, committed to supporting the social and economic development and aspirations of our country,” Kibati said.
Established in 1918 as a life insurance company, the South Africa-based Sanlam Group has transformed into a diversified financial services business, spreading it’s businesses in 33 countries across Africa.
The Group also operates its businesses in emerging markets through the Sanlam Emerging Markets (SEM) business cluster, which has four regions – East; Southern Africa; West Africa; South East Asia (Malaysia); and Asia (India).
The recently concluded acquisition of a 30 per cent stake in Morocco-based Saham Group expanded the Group’s footprint into countries mostly in Francophone and Lusophone Africa. The Group also has businesses in the United Kingdom, the USA, Australia and the Philippines.
Sanlam Kenya has a branch network of 34 client experience centres across Kenya’s major towns with an estimated market share of 8 per cent in the Kenyan life insurance industry, serving over 99,401 policyholders under individual life and more than 236,507 under group life.
In addition, Sanlam Kenya and its subsidiaries will have access to technical expertise and years’ of experience from various resources within the Sanlam Group which operates across five continents.
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