Sanlam in joint venture partnership with Allianz

South Africa-based insurer Sanlam Ltd. and German insurer Allianz SE are expected to commence their 10-year joint venture partnership around the middle of this year, as approvals for the merger remain on track, Verdict reported citing Business Daily Africa. As part of the deal, the firms will combine their businesses across multiple markets, including their local subsidiaries Sanlam Kenya PLC and Jubilee Allianz General Insurance (K) Ltd. Sanlam and Allianz will hold a 60% and 40% stake in the joint venture, respectively.