Sanlam Limited is a South Africa based public company operational in the Banking, Insurance and Asset Management industry.
Sanlam is an abbreviation for South African National Life Assurance Company. It has its headquarters in Cape Town, South Africa. It serves both individuals as well as institutional clients by providing them financial solutions. These financial solutions include insurance- individual, group and short-term and personal financial services that include personal loans, estate planning, health management, wills, trusts, savings and other linked products.
On March 28, 1918 Suid-Afrikaanse Nasionale Trust en Assuransie Maatskappij (Santam) was registered. It was founded by a small group of Afrikaners and a Scottish banker. But even before Santam was registered it was decided that the life assurance department of the company would be converted into a separate company (in order to separate long profits payable to the policyholders from short term profits payable to the shareholders) and as a result on June 8, 1918 the Suid-Afrikaanse Nasionale Lewens Assuransie Maatskappij Beperk, Sanlam, was established. While the Santam remain focused on short term insurance, Sanlam became the torchbearer of the operation. It was in the 1990s that Sanlam’s focus deviated from life insurance and expanded its range financial services and products. In 1998 it got listed on the JSE Securities Exchange and the Namibian Stock exchange and thereafter changed from a mutual entity to a public company. At that time only Sanlam Ltd. Was established as the parent company for the Sanlam Group of businesses. Following this the group was restructured in a number of independent businesses and it adopted a federal structure.
The company has five segments through which it operates. These segments are Sanlam Personal Finance, Sanlam Institutional Cluster, Sanlam Emerging Markets, Santam and Corporate and other. It has a market capitalization of $14.7 billion and Sales revenues of $8.5 billion.