Sanlam Kenya Plc has announced plans to hold an Extraordinary General Meeting (EGM) on 9 October 2025 to seek shareholder approval for a rebrand to Sanlam Allianz Holdings (Kenya) Plc. This strategic move reflects the company’s new identity under the SanlamAllianz joint venture, marking a significant milestone in reshaping its future direction within the financial services industry.
The rebrand comes after Jubilee Holdings’ full exit from the general insurance space, following the sale of its remaining stakes in Jubilee Allianz subsidiaries across Kenya, Uganda, and Mauritius, along with additional shares in Burundi and Tanzania. These transactions consolidated SanlamAllianz Africa’s presence in the region, underscoring its commitment to scaling operations and expanding influence in East Africa’s insurance sector.
Allianz first entered the region in 2020 by acquiring majority stakes in Jubilee’s general insurance units valued at KSh 10.8 billion, providing Jubilee with KSh 7.75 billion in cash. Between 2021 and 2022, the phased acquisitions were completed, leading to the businesses rebranding under the Jubilee Allianz name. By September 2023, Sanlam and Allianz formalized their pan-African joint venture—SanlamAllianz—valued at R35 billion (\$2 billion), with equity split 60% to Sanlam and 40% to Allianz.
As part of the consolidation, Sanlam Kenya had earlier transferred its general insurance portfolio, valued at KSh 2.78 billion, to Jubilee Allianz Kenya. Additionally, in 2025, the company conducted a KSh 2.5 billion rights issue that boosted SanlamAllianz and Hubris Holdings’ combined stake in Sanlam Kenya to 71.5%, with approval from the Capital Markets Authority through a takeover exemption. These structural changes strengthen the company’s alignment with its parent joint venture and position it for sustainable growth.
Following this restructuring, Sanlam Kenya will focus exclusively on life insurance, pensions, and investments, while SanlamAllianz will drive the general insurance business across East Africa. This clear delineation ensures sharper strategic focus, better resource allocation, and improved competitiveness in meeting evolving customer needs in both life and general insurance segments.
The rebrand to Sanlam Allianz Holdings (Kenya) Plc represents not only a name change but also a strategic transformation that reinforces the company’s identity as part of a leading pan-African financial services powerhouse. This transition signals a future of stronger market positioning, greater innovation, and expanded opportunities for policyholders and stakeholders in Kenya and beyond.
