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
0
Rebranded from FBNInsurance to Sanlam Nigeria following Sanlam Group's acquisition· pivot
0
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
Regulated entities
2
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.