Chamwe Kaira
Sanlam Group has reduced its shareholding in SanlamAllianz to 51% following the sale of Sanlam Life Namibia and the acquisition of an additional stake by Allianz Europe BV.
According to the group’s half-year results for the period ending 30 June 2025, Allianz acquired 8.59% of SanlamAllianz on 7 April 2025, leaving Sanlam with 51% and Allianz with 49%.
Sanlam Life Namibia was sold to SanlamAllianz with effect from 1 July 2024. Before the transaction, Sanlam owned 100%, but afterward its effective ownership in Sanlam Life Namibia dropped to 59.59%.
The group said the first half of the year was marked by global trade and political tensions, policy divergence and shifting investor sentiment.
New tariffs introduced in April during the “Liberation Day” period triggered a sharp sell-off in global equities. Markets recovered strongly in the following weeks as tariff escalation paused.
US markets ended the half year with moderate gains, while Europe and Asia outperformed.
Sanlam said it maintained a disciplined approach to capturing upside in key regions while managing risk in a volatile policy environment.
The group reported strong performance driven by solid execution, strategic positioning, and cost and claims management. The balance sheet improved with stronger cash generation and prudent capital allocation.
The net result from financial services rose 14% to N8.1 billion, supported by contributions from general insurance, life insurance, and credit and structuring. Net operational earnings increased 15% to R9.3 billion. New business volumes grew 7% to N$218 billion.
Life insurance net value of new business fell 18%, reflecting the Namibia disposal, the end of the Capitec co-operation agreement, and weaker sales of life annuities. On a normalised basis, the decline was 3%.
Net client cash flows more than doubled to N48.5 billion, with strong inflows from South African investment management, retail platforms, and insurance operations. Group equity value per share stood at N84.12, and return on group equity value reached 8.9% (18.2% annualised), above the hurdle rate.
In June, Sanlam Namibia rebranded to SanlamAllianz Namibia following the strategic alliance between Sanlam and Allianz.
The company said the transition will bring growth, value creation, and world-class financial services.
Caption
Sanlam Namibia rebranded to SanlamAllianz Namibia in June.
- Photo: SanlamAllianz
