Sanlam
 |
|
| Public company | |
| Traded as | JSE: SLM |
| Industry |
Insurance Banking Asset management |
| Founded | 1918 |
| Headquarters | Cape Town, South Africa |
|
Key people
|
Ian Kirk (CEO) Kobus Möller (Financial Director) Desmond Smith (Chairman) |
| Revenue | $6.311 billion (2015) |
|
Number of employees
|
~13 000 (2015) |
| Website | www |
Sanlam is a South African financial services group headquartered in Cape Town, and listed on the Johannesburg Stock Exchange and the .
Established in 1918 as a life insurance company, Sanlam Group has developed over time into a diversified financial services business. Through its business clusters – Sanlam Personal Finance, Sanlam Emerging Markets, Sanlam Investments, Sanlam Corporate and Santam – the group provides financial solutions to individual and institutional clients across all market segments.
The group’s areas of expertise include insurance, financial planning, retirement, trusts, wills, short-term insurance, asset management, risk management and capital market activities, investment and wealth. The group operates in South Africa, Namibia, Botswana, Swaziland, Malawi, Zambia, Tanzania, Rwanda, Uganda, Kenya, Ghana, Nigeria, Mozambique, India, Malaysia and the UK and has business interests in the USA, Australia and the Philippines. It has a stake in leading global micro-insurance specialists, UK-based Micro-Ensure Holdings Limited, which has a footprint across Africa and India servicing more than 10 million enrolled clients.
The Suid-Afrikaanse Nasionale Trust en Assuransie Maatskappij Beperk (South African National Trust and Assurance Company Limited), Santam, was registered on 28 March 1918. It was then decided to convert the life assurance department into a separate company, and the Suid-Afrikaanse Nasionale Lewens Assuransie Maatskappij Beperk (South African National Life Assurance Company Limited), Sanlam, was registered on 8 June 1918. Sanlam, the subsidiary, later became the spearhead of the operation, while Santam remained focused on short-term insurance.
Sanlam showed a small profit at the end of its first year, declared a bonus, and continued to grow consistently from there.
Santam remained the controlling shareholder until 1954 when Sanlam became an independent mutual life assurance company, as well as the largest single shareholder in Santam.
Over the years, Sanlam's focus gradually shifted from traditional life insurance to providing a broader range of financial products and services. In 1998 Sanlam demutualised, listing on the Johannesburg Stock Exchange (JSE) Ltd and the . This changed Sanlam from a mutual entity into a public company with a share capital, namely Sanlam Life Insurance Ltd. At the same time a separate company, Sanlam Ltd, was installed as the parent company of the Sanlam group of businesses. The group was also restructured into several independent businesses within a federal business structure.
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Wikipedia