The government has reaffirmed its commitment to strengthening Kenya’s insurance sector as part of wider efforts to deepen the role of financial services in national development.
Treasury Cabinet Secretary John Mbadi, in remarks delivered on his behalf by Kenya Revenue Authority Commissioner General Humphrey Wattanga during the official rebranding of Sanlam Kenya, stated that the government is focused on building a financial sector that is resilient, competitive, and inclusive, in order to drive investments and support economic transformation.
Sanlam Kenya Plc, listed on the Nairobi Securities Exchange as SLAM, has formally rebranded to Sanlam Allianz Holdings Kenya PLC.
The transition follows the recent joint venture between Sanlam and Allianz, creating SanlamAllianz, now Africa’s largest non-banking financial services provider, backed by more than two centuries of combined experience across the continent.
As part of the rebrand, following shareholder and regulatory approvals, SanlamAllianz Kenya Group CEO Dr Nyamemba Patrick Tumbo reiterated that the firm will enhance its client experience and distribution capabilities through the deployment of innovative technology-based solutions.
He noted that the company’s life and general insurance subsidiaries, Sanlam Allianz Life Insurance Kenya and Sanlam Allianz General Insurance Kenya, will continue under the leadership of Jacqueline Karasha and George Kuria, respectively.
The insurance sector, Mbadi said, is the quiet engine of every modern economy. “It protects families, cushions businesses, and enables investment in the sectors that propel national progress,” he said.
As part of the commitments, CS Mbadi said the government has scaled up efforts to strengthen the regulatory foundation of the insurance sector to foster trust in insurance services and products.
“Through the IRA, we are rolling out reforms that sharpen oversight, protect consumers, and unlock innovation, from digital asset insurance frameworks, to standardised claims processes and a strengthened risk-based capital regime,” Mbadi said. He added, “These reforms serve one goal - trust. Because without trust, insurance cannot thrive.”
He added that insurers are expected to strengthen corporate governance, responsibly adopt technology, and expand services to underserved communities, noting that widening safety nets for households, farmers, MSMEs, and investors is key to the country’s future.
Highlighting the significance of the rebrand, Mbadi said the transformation of Sanlam Kenya into Sanlam Allianz Holdings Kenya signals Kenya’s readiness for greater investment in the financial sector.
“The rebirth of Sanlam as Sanlam Allianz is a signal that Kenya is open, ready, and rising. It tells the world that our market is mature, our institutions strong, and our ambitions limitless,” he said.
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