SanlamAllianz JV Appoints Mr. Heinie Werth As CEO
SanlamAllianz JV Appoints Mr. Heinie Werth As CEO. Following the successful completion of the SanlamAllianz transaction to form the SanlamAllianz JV (“SAZ JV”), the leading Pan-African insurance business, Mr. Heinie Werth has been appointed as CEO of SAZ JV. Mr Werth is therefore stepping down from both the Sanlam and Sanlam Life Boards as an executive director with effect from 31 December 2023 to focus on management of the SAZ JV on behalf of Sanlam and Allianz.
The Sanlam and Sanlam Life Boards have expressed its deep gratitude to Heinie Werth for his service and for 25 years at Sanlam, where he has had a distinguished career including serving inter alia as Group Finance Director and as CEO of Sanlam Emerging Markets. The Board wishes Mr. Werth the best for his new role in driving the SAZ JV on the continent.
SanlamAllianz’s ambition is to be among the top three players, in both market share and profitability, in the markets where the company will operate. The joint venture is expected to have a combined group equity value (GEV) of approximately R35 billion. Retail and corporate clients will benefit from a broader offering of insurance products tailored to their needs as well as best-in-class financial solutions. Products and services will be available in the markets where one or both companies currently operate. Namibia will be included at a later stage, while South Africa is excluded from the agreement.
The Allianz Group is one of the world’s leading insurers and asset managers with more than 122 million private and corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance.
Sanlam is a pan-African financial services group listed on the Johannesburg, Namibian and A2X stock exchanges. Through its clusters – Retail Mass, Retail Affluent, Sanlam Corporate, Sanlam Emerging Markets, Sanlam Investment Group and Santam, the Group provides comprehensive and bespoke financial solutions to institutional clients and consumers across all market segments. Sanlam’s areas of expertise include life and general insurance, financial planning, retirement, investments, and wealth management.Established in 1918 as a life insurance company, Sanlam has evolved into the largest non-banking financial services group in Africa through its diversification strategy.
