Slaughter and May advised Allianz, one of the world’s leading insurers and financial services providers on the completion of its joint venture with Sanlam, the largest non-banking financial services company in Africa, to combine their current and future operations across Africa. Namibia will be included at a later stage and South Africa is excluded from the agreement.
The joint venture, which operates under the “Sanlam Allianz” brand, has a presence in 27 countries across the continent. The key priorities of the joint venture will be to: provide greater access to products and services, while leveraging Allianz and Sanlam’s telecommunications and bancassurance partnerships; enhance property, casualty and life insurance offerings; and grow the life and general insurance business.
The joint venture is expected to have a combined total group equity value (GEV) in excess of 35 billion South African rand (approximately 2 billion euros).
Slaughter and May worked closely with the Allianz in-house legal team, including Petra Maerkl (Head of Group Legal M&A) and Isabel Trojette (Senior Legal Counsel).
Eden Guarino / Trainee