Zambia News

Zambia marks Sanlam Life Insurance’s 20th anniversary

On December 14, 2022, Sanlam sponsored a gala dinner with some of the most prominent figures in the financial sector to commemorate 20 years of constantly fostering confidence in insurance services in Zambia. Sanlam leadership, financial industry regulators, and other significant players were also present at the event to highlight the significant turning point in the organization’s long journey as a client-focused service provider in Zambia.

Ms. Namakau Ntini congratulated Sanlam on its 20th anniversary in a speech she gave at the gala dinner on behalf of the Acting Registrar of the Pensions Insurance Authority (PIA). “We appreciate businesses that support the growth of our financial services sector, like Sanlam Life Insurance. As a regulator, it is our responsibility to create a stable and equitable environment that is favorable to the development of the insurance business. Economic change is the cornerstone of our institution’s strategy.

Mrs. Ntini also commended Sanlam Life Insurance for helping to build industry confidence locally and for their dedication to upholding values and operating in accordance with the regulations set forth by the Zambian insurance regulators.

Munyaradzi Javangwe, the CEO of Sanlam Life Insurance in Zambia, said during a speech at the gala dinner that “Sanlam Life Zambia, which is a subsidiary of the Sanlam Pan Africa company, acquired Africa Life Insurance in November 2002. The organization has witnessed the entity solidify its leadership position in the market and evolve into a customer-centric organization over time. Mr. Javangwe went on to say that Sanlam Life Insurance has maintained capital adequacy cover (CAR) of more than 6 times the required regulatory minimum capital while keeping reputable regional and international reinsurance partners for additional underwriting capacity. Sanlam Life Insurance has more than 25% market share (by revenue) out of 13 licensed life insurance companies in Zambia.

By collaborating with projects like Ayo, Kazang collaborations, and other ongoing initiatives, Sanlam has raised the penetration rate and uptake of insurance while also fostering financial inclusion. Through these programs, they are able to provide insurance coverage to its clients from all walks of life.

Sanlam Life Insurance customers can take part in the 20th anniversary celebration on social media by using the hashtag #LiveWithConfidence, where they can win a range of gifts.

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