Saham insurance companies change their name from June 1, 2021 in their various markets including Togo, Benin, Guinea and Senegal. The announcement was made officially on Wednesday 23 May by the subsidiaries concerned.
“This rebranding follows the acquisition by Sanlam Group of all the capital of Saham Finances, finalized in October 2018,” said a statement from the group. “This rebranding operation also reflects a strong potential for creating value for our clients as well as a source of growth for the insurance sector in our country”, adds the same source.
First from 30% to 46.6% in December 2016 then from 46.6% to 100% in October 2018, making the South African group SANLAM, 100% holder of the capital of the SAHAM Finances Group. Present in 33 countries in Africa through its subsidiaries and since April 2012 in Guinea, the SANLAM group is the leading insurance group on the continent with a market capitalization of 16 billion dollars.
Listed on the Johannesburg Stock Exchange, Sanlam offers a range of complete and personalized financial solutions in all market segments, through its 5 areas of activity: Sanlam Personal Finance, Sanlam Pan Africa, Sanlam Investments, Sanlam Corporate and Santam. The South African group “is developing a vision focused on creating value for the client, placed at the heart of any development strategy”, and “aims to consolidate its positions in the investment solutions segment on developed markets”, according to its leaders. It was founded in 1918 as a life insurance company, and also operates in Malaysia, the United States, India and Australia.
“Capitalize on a heritage”
In Togo, the company is the leader in the non-life branch with a 31% market share and, since 2017, has a life branch (4% share). The ex-Colina Assurance claims the largest network of general agencies on the market (19 in total) and a turnover of more than 13 billion FCFA in 2020 for 5 billion in premiums paid.
At a press conference in Lomé, Simon Pierre Gouem, its managing director, indicated that the installation of Sanlam in the country is the result of a global strategic vision of the group, based on the installation of a single, strong brand. and who is gaining trust across the continent. “This is not just a name change,” he said, adding that the rebranding will “capitalize on a legacy of secular notoriety of enrichment in new values.”