Africa-Press – Uganda. 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 officially launched their SanlamAllianz brand to the Ugandan market.
This was at an event hosted at Kampala Serena Hotel on Tuesday.
Speaking at the launch, Ruth Namuli, CEO of SanlamAllianz General Insurance Uganda, and Gary Corbit, CEO of SanlamAllianz Life Insurance Uganda, shared insights on what the merger means for the local market and the future of insurance in the country.
Corbit highlighted the strength of the merger.
“By combining Sanlam’s deep continental expertise and robust footprint with Allianz’s global scale, financial strength, and legacy, we are creating an African powerhouse. We are bringing together over 200 years of collective experience to Uganda, and we are here to set a new, higher benchmark for innovation and customer value.”
He noted that this merger is well-timed, aligning with the momentum within Uganda’s insurance industry. Corbit emphasized that the company’s combined capabilities position it to play a defining role in shaping this growth and driving greater inclusion across the market.
“The country’s insurance sector demonstrated resilience in 2024, achieving a solid 10% growth in Gross Written Premiums (GWP) against a supportive macroeconomic backdrop of 6.1% GDP growth. We also see a maturing market, particularly in Life Insurance, which grew at a healthy rate of nearly 15%,” he added.
Under the SanlamAllianz brand, customers in Uganda will continue to enjoy all existing benefits of their policies with the added assurance of a stronger global backing. The company will continue to invest in digital solutions and innovative products tailored to the evolving needs of Ugandans.
“This union is also going to create a platform to meet the evolving insurance needs of individuals, SMEs, corporates and institutions across Uganda. We promise greater financial inclusion with innovative solutions for underserved segments of the population and sector growth through investing in local talent, technology and partnerships,” shared Ruth Namuli, CEO SanlamAllianz General Insurance Uganda.
The Ugandan insurance landscape is undergoing significant transformation, marked by accelerated growth, digital integration, and an increasing focus on sustainability.
According to the 2024 Annual Insurance Industry Market Report, the global insurance sector is experiencing a transition towards sustainability, digital integration, and regulatory convergence, with global premiums expected to grow by 3.3% in 2025.
This growth is largely driven by a recovery in life insurance and increased demand for health, liability, and cyber insurance products.
Alhaj Dr. Kaddunabbi Ibrahim Lubega, CEO of the Insurance Regulatory Authority of Uganda, in his remarks, welcomed the merger into the market. He said,
“This partnership brings together global expertise and local strength, which will not only enhance the capacity of the industry but also broaden access to quality insurance services for Ugandans. As the regulator, we are particularly encouraged by the commitment to innovation, customer protection, and financial inclusion.”
The rebrand will not disrupt existing services or benefits. Instead, customers can expect greater access to a wider range of insurance solutions, enhanced digital platforms for easier engagement, financial security and claims reliability, and localized product innovation to meet Uganda’s market needs.
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