Saham Group Seals Strategic Partnership Deal with Sompo Japan

From (l-r): John, Santam Risk services, Mrs. Nadia, Saham Finances’ CEO, Atsushi, Sompo’s Managing Executive Officer,  Junior, Chief Executive Officer of Sanlam Emerging Markets

Paris, France, October  20, 2017 – SAHAM Finances, Sanlam Emerging Markets (Pty) Limited, Santam Ltd, Sompo Japan Nipponkoa Insurance Inc and Sompo International sign a business partnership between leading international insurance companies.

The main objective of this new strategic alliance is to accompany the Japanese investors in the African market. This partnership comes into force on October 19th, 2017.

Nadia Fettah, Saham Finances’ CEO, said: “We are delighted to sign this privileged partnership agreement with Sompo, which will allow us to consolidate our expertise and pool our respective partner networks, by facilitating access to a comprehensive insurance and services offer to Japanese multinationals in Africa. This partnership is part of our commitment for Africa’s economic development.”

Junior Ngulube, Chief Executive Officer of Sanlam Emerging Markets,said: “Together with our partners Saham Finances and Santam, we have collectively the largest pan-African financial services network spanning 34 countries in Africa. Sanlam’s business model is underpinned by a partnership philosophy and this positions us as the ideal pan-African financial services provider for multi nationals.”
“This MoU is a first for the Sanlam Group and we are honored and privileged to enter in this cooperation with Sompo, one of the leading Japanese insurance companies, in offering financial services to multinationals across Francophone West Africa as well as Anglophone and Lusophone markets in Southern and East Africa” Mr. Ngulube added.

John Melville , Santam Risk services BBusSc (Hons), FIA, FASSA, MCR (IMD), said: “Insurance and risk transfer are fundamental to large-scale capital projects that drive economic growth. Developing countries, however, often lack access to the insurance capacity and specialised expertise to enable this.

This powerful international partnership is designed to provide specialised insurance in Africa at scale, helping to unlock the urgent need for investment and development on the continent. Santam is proud to be associated with institutions of the highest international standing in this undertaking.”
Atsushi Mizuguchi , Sompo’s Managing Executive Officer, said: “It is indeed a historical moment, not only for the companies of this alliance, but also for bilateral relations between Japan and the African continent. The Japanese government has continued to mobilize support for Africa’s socio-economic development.

Sompo too wishes to provide support to its clients who are investing in developing African infrastructure, thereby boosting and promoting sustainable growth throughout the continent. We are deeply gratified to be a part of this alliance with our partners Sanlam and Saham Finances.”

Nigel Frudd, Chief Strategy Officer, Sompo International, commented: “This strategic collaboration with Sanlam and SAHAM Finances will allow us to bring the extensive global experience and broad product knowledge that SI possesses to our African clients.

Many of SI’s specialty insurance products, such as crop, energy and weather risk, will be critical to aiding the future development of the continent. We look forward to strengthening the strong relationships with our partners through personnel exchanges as well as technical support across the region”.

African Eye Report

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