Ebere Nwoji

The National Insurance Commission (NAICOM) has given  new licenses to SanlamAllianz Life and General Insurance Nigeria Ltd. 

The commission in  a brief ceremony held in Abuja handed over the licenses to the management of the companies.

Speaking during the Ceremony, the Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, emphasised  the Commission’s commitment to supporting the growth of insurance entities in the country, while ensuring strict compliance with regulatory requirements. He urged the companies to prioritise  good corporate governance, stability, and timely claims settlement processes.

He reiterated NAICOM’s dedication to removing unnecessary bottlenecks and improving the insurance industry’s overall performance. He expressed confidence that the merger would enhance the companies’ capabilities and contribute to the industry’s growth. 

Just a few weeks ago, Africa’s biggest non-banking financial services powerhouse,  Sanlam and Allianz,one of the world’s well recognised global insurer, had announced a significant milestone in their Pan-African expansion strategy with the successful merger of their operations in Nigeria, 

Managing Director of SanlamAllianz Life Insurance Nigeria,  Tunde Mimiko, said the event marked a transformative chapter for Sanlam and Allianz but, even more importantly, the Nigerian insurance industry. 

According to him, Our joint venture, SanlamAllianz, is the fusion of complementary strengths, global expertise, rich underwriting heritage, and local insights designed to expand access to world-class insurance solutions for millions of Nigerians.”At a time when Africa’s economic evolution demands more than traditional products.

He noted that SanlamAllianz was committed to empowering individuals and businesses to build resilience, plan confidently, and drive inclusive growth. by embedding innovation and collaboration .

He said the firms by coming together aim to navigate the complexities of Nigeria’s market with integrity and excellence, setting a new benchmark for the insurance industry and securing the future of our