← Embedded Finance Index 2026

Sanlam Nigeria

“Can a legacy pan-African insurer digitize customer-facing premium collection and claims in Nigeria without becoming a fintech itself?”

Founded2010
HQLagos, Nigeria
IndustryFintech / Insurtech

The story

Sanlam Nigeria is the Nigerian arm of pan-African insurer Sanlam Group (est. 1918 in South Africa). Originally operating as FBNInsurance (a First Bank of Nigeria subsidiary), the entity was rebranded to Sanlam Nigeria following Sanlam Group's acquisition. It has since been folded into the SanlamAllianz joint venture — a pan-African combination of Sanlam and Allianz operations. The Nigerian entity operates two NAICOM-licensed subsidiaries: Sanlam Life Insurance Nigeria and Sanlam General Insurance Nigeria.

Last 12 months

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Product timeline

Rebranded from FBNInsurance to Sanlam Nigeria following Sanlam Group's acquisition· pivot

Merged into SanlamAllianz joint venture (pan-African Sanlam + Allianz combination)· acquisition

2010

Founded as insurance company in Lagos, Nigeria (originally FBNInsurance)· founding

2015

FBN General Insurance Limited established as a general insurance subsidiary· product_launch

2021

Acquired Alexander Forbes Life for $7.2M· acquisition

Acquisitions

Alexander Forbes Life2021

Acquired the Nigerian life insurance operations of Alexander Forbes for $7.2M

Regulated entities

regulatory licences held by Sanlam Nigeria

Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.

The stack

2 layers disclosed in Sanlam Nigeria’s embedded-finance stack

Insurance

Sanlam Life Insurance Nigeria Limited (in-house)Sanlam General Insurance Nigeria Limited (in-house)

Investing

in the full report

Accounting gap: none

1 more provider across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.

Sanlam Nigeria — frequently asked

Which insurance provider does Sanlam Nigeria partner with?

Sanlam Nigeria's embedded insurance is provided by Sanlam Life Insurance Nigeria Limited (in-house) and Sanlam General Insurance Nigeria Limited (in-house).

Who powers Sanlam Nigeria's investing products?

Sanlam Nigeria's investing and wealth products are powered by Sanlam Nigeria (in-house).

What is Sanlam Nigeria's embedded finance stack?

The Embedded Finance Index 2026 maps 2 layers in Sanlam Nigeria's stack: Insurance (Sanlam Life Insurance Nigeria Limited (in-house) and Sanlam General Insurance Nigeria Limited (in-house)); Investing (Sanlam Nigeria (in-house)).

Where is Sanlam Nigeria headquartered?

Sanlam Nigeria is founded in 2010 and headquartered in Lagos, Nigeria.

What companies has Sanlam Nigeria acquired?

Sanlam Nigeria's acquisitions include Alexander Forbes Life (2021).

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