FBNInsurance Limited has rebranded to become Sanlam Life Insurance Nigeria Limited after Sanlam purchased 100 per cent stake in FBNInsurance.
To this end, the new investor becomes the owner of FBNInsurance Limited and FBN General Insurance Limited both of whom have now renamed Sanlam Life Insurance Nigeria Limited and Sanlam General Insurance Nigeria Limited.
The move supports the Sanlam’s strategy to deliver excellent products and services to clients through direct contact with the Sanlam brand. The rebrand further supports Sanlam’s efforts to enhance its presence across Africa as well as its ongoing investment in the continent.
Sanlam Pan Africa (SPA) Life Insurance Cluster, CEO, Robert Dommisse, highlighted Sanlam’s commitment to Nigeria, and the importance of West Africa market to Sanlam. SPA is the division in Sanlam Emerging Markets, which encompasses Sanlam Group’s businesses in Africa and other emerging markets, such as, India and Malaysia.
“Nigeria has always been one of the most important markets for the Sanlam Group because the country is such a key economy on the African continent. It has always been imperative that Sanlam has a strong presence and operation in Nigeria.
“We have a good business in the Nigerian market, and we are going to continue invest and grow the operation. It is important for us that we do so under the Sanlam brand so that the existing and potential customers know that they will be getting the full support of the promises we make in the market,” Dommisse said.
“We are very excited about the introduction of the Sanlam brand in Nigeria and we believe it’s a great moment in time for us to step forward to show our brand across an array of touch points and have our diverse stakeholders interact positively with the brand in the Nigeria market,” Dommisse added.
Managing director and chief executive officer, Sanlam Life Insurance Nigeria Limited, Mr Tunde Mimiko, said: “we look forward to the next exciting chapter of the business under the banner of the Sanlam brand which is committed to continuously promoting consumer access and inclusion in financial services across the African continent.
“The introduction of the Sanlam brand is a milestone development for Nigeria. Through our innovative brand offering, we look forward to delivering services that empower generations of Nigerians to be financially secure, confident, and prosperous.”
Managing director/CEO, Sanlam General Insurance Nigeria Limited, Mr Bode Opadokun, said: “we have continually evolved our business and our products to add value to many lives. As we step into another exciting phase of our journey, we look forward to delivering services through the compelling brand of Africa’s leading non-banking financial services organization, Sanlam, both in the Nigerian market and West African region.”