NIKO Insurance rebrands to Sanlam

Niko Insurance Limited has rebranded to Sanlam General Insurance Tanzania Limited to strengthen its identity and expand its visibility in Tanzania and East Africa where it also has a presence in Kenya, Rwanda and Uganda.

Sanlam, the South Africa- based multinational financial services group owns 46 per cent stake in NIKO through its subsidiary company, Sanlam Emerging Markets (SEM).

Sanlam General Insurance Chief Executive Officer, Mr Manasseh Kawoloka, said in Dar es Salaam on Wednesday that Sanlam will continue to offer a full range of general insurance products for both personal and corporate clients.

The products offered include a range of business and personal products like motor, fire, marine, engineering as well as additional specialised insurance cover options.

“Rebranding of NIKO to Sanlam General Insurance will contribute to stronger business performance for the company and offer Tanzanians greater access to a range of innovative insurance products to cover insurance risks of personal and commercial nature,” he said.

He added: “We see many opportunities to provide customers with greater access to our products to meet their general insurance needs.” 

The rebranding of NIKO to Sanlam that has a track record of 10 years in Tanzania insurance market follows the rebranding of African Life Assurance to Sanlam Life Insurance in August this year.

The Corporate Development Executive, Sanlam Emerging Markets, Mr Thabied Majal, said through the Sanlam brand clients will have the added comfort and security of doing business with the company that is well known in many African markets as a leader in both short and long term insurance.

“We are looking forward to using the opportunity to strengthen business relationship with our clients, partners and associates and to further entrench the Sanlam way of doing business to a wider range of clients,” he said.

He said Sanlam offers expertise and experience to its partners as well as world class products and services that create sustainable value for the clients. 

The geographical diversification strategy focuses on investing in small, bolt on deals and partnerships with established businesses in emerging markets as well as the firms’ most valuable assets.

With a track record of 97 years, Sanlam Group is a diversified financial services business with assets of more than 60 billion US dollars and an international footprint.

The SEM business cluster is responsible for Sanlam’s financial business services in emerging markets outside South Africa, and aims to ensure sustainable delivery and growth across the various businesses that make up this cluster.
Source: Daily News, reported from Dar es Salaam, Tanzania
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