Sanlam, a non-banking financial services business has acquired FBNInsurance on Thursday, and as a result, FBNInsurance changed its name to Sanlam Life and General Insurance Nigeria Ltd. in Lagos.
Robert Dommisse, Chief Executive Officer, Sanlam Pan Africa (SPA) Life Insurance Cluster, stated during the inauguration that the company’s life and general insurance businesses will be affected by the rebranding.
On Thursday, FBNInsurance rebranded in Lagos to Sanlam Life and General Insurance Nigeria Ltd. following its acquisition by Sanlam, a non-banking financial services company.
Speaking at the inauguration, Robert Dommisse, the Chief Executive Officer, Sanlam Pan Africa (SPA) Life Insurance Cluster, said that the rebranding would apply to the life and general insurance businesses of the firm.
Dommisse said the new name of the insurer would be Sanlam Life Insurance Nigeria Ltd. and Sanlam General Insurance Nigeria Ltd., respectively, with the motto: “Live With Confidence.”
According to him, the rebranding would strengthen Sanlam’s strategy to deliver excellent products and services to clients, and would also support efforts to enhance the company’s presence across Africa.
Dommisse said the company was committed to Nigeria and West Africa
“Nigeria has always been one of the most important markets for the Sanlam Group because the country is a key economy on the African continent.
“It is 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 to invest and grow the operation.
“It is important for us to do so under the Sanlam brand so that our existing and potential customers will know that they will be getting the full support of the promises we make in the market,” Dommisse said.
Tunde Mimiko, the Managing Director and Chief Executive Officer, Sanlam Life Insurance Nigeria Ltd, said: “The underwriter 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 offer, we look forward to delivering services that will empower generations of Nigerians to be financially secure, confident and prosperous,” Mimiko said.
Bode Opadokun, Managing Director and Chief Executive Officer, Sanlam General Insurance Nigeria Ltd., said the insurance company had continued to evolve its business and 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 organisation both in the Nigerian market and West African region,” he said.