Chamwe Kaira
One of Africa’s largest short-term insurers, Santam, is expanding its regional footprint while strengthening its presence in Namibia as part of a broader strategy to grow insurance coverage across southern Africa.
Santam has strengthened its presence in Namibia after acquiring the insurance book of business of Western National Insurance Namibia (Pty) Ltd.
The transaction allows Santam Namibia to take over existing policies from Western National Insurance Namibia, increasing its client base and expanding its position in the local insurance market.
The development forms part of Santam’s regional strategy to grow insurance coverage across southern Africa.
According to the company’s 2025 integrated report, Santam continues to expand operations in Namibia through broker networks, intermediary partnerships and targeted acquisitions.
Santam operates through independent intermediaries and brokers across South Africa and Namibia. The company provides insurance products to individuals, businesses and specialised sectors.
The group offers insurance coverage in property, motor, engineering, liability, marine, aviation and crop insurance for both personal and commercial clients.
For the year ended December 2025, Santam reported group operating earnings of N$5.66 billion.
Gross written premiums increased by 6.4% to N$44 billion, while net earned premiums rose by 14.7% to N$36.9 billion.
The company paid about N$28.5 billion in claims during 2025.
Santam said it is also focusing on climate-related risks such as floods, droughts and extreme weather events.
The company has introduced weather-index insurance to help farmers manage climate risks. It is also using data analytics and geospatial mapping to improve risk assessments.
Santam aims to increase its share of international business and expects global operations to contribute more to future earnings.
The company has more than 3.7 million policyholders across the region.
It said expansion and partnerships in Namibia could help improve access to insurance products, especially for individuals and small businesses that remain uninsured.
Santam group chief financial officer Wikus Olivier said economic conditions may improve slightly in 2026.
“Together with easing pressure on personal disposable income in South Africa and our strategic focus on higher-growth areas in the direct, partnership, and international space, it should support growth prospects into 2026,” he said.
Olivier said investment market returns may slow in 2026 after strong performance in 2025.
“The recent escalation of conflict in the Middle East is expected to give rise to heightened volatility as well as potential secondary economic impacts,” he said.
