Sanlam is easily one of the foremost names in the insurance sector of South Africa. The financial services Group’s offices span all over the country with its headquarters located at Cape Town.
The Group was initially established as a life insurance company in the year of 1918. However, subsequently in the year of 1998 the company was demutualised and listed on the Johannesburg and Namibian stock exchanges.
The Group provides a series of financial solutions to potential clients in the form of short term insurance products for individuals and groups, estate planning, home and personal loans, trusts, savings and many other products falling in the same category.
The Group, apart from offering its own short term insurance products to both individuals and businesses, also has majority shareholding in various other insurance providers in the country. This allows it to consolidate its offerings in an extremely comprehensive manner.
In essence, such diversity allows the Group to offer multiple short term insurance and financial services products in the market. While the Group easily has around 50 separate products, here is a rough collation of what it offers.
1. Individual short term insurance products:
- Motor vehicles – insurance products for the full range of motor vehicles.
- Household – covers everything from the building to the contents in it.
- Personal risk – protection against natural and manmade calamities of different kinds.
- Life Power – specific insurance product designed for people with HIV.
- Medical Aid – medical cover in the form of Bestmed.
- Retirement – numerous elaborate products designed to secure the retirement period.
2. Business short term insurance products:
- Motor vehicles – provides cover for fleets of vehicles in the business setup.
- Property – protects property and immovable assets for businesses.
- Employee benefits – the full range of group benefits for employers containing all types of features.
- Financial strategizing and structuring – covers equity handling, debt management and risk alleviation.
Sanlam is, by far, one of the leading lights in the insurance sector of the country of South Africa and even the continent of Africa. The company has grown considerably since its inception as only a life insurance provider to a point where it has a major shareholding in the South African insurance market.