Dar es Salaam — A Tanzanian insurance firm, NIKO Insurance, has rebranded to Sanlam General Insurance (Tanzania) limited as it seeks to strengthen its identity and expand visibility in East African markets.
The rebranding comes few months after African Life Assurance had changed its identity to Sanlam Life Insurance in August this year.
Sanlam Emerging Markets (SEM) Corporate Development Executive, Thabied Majal announced the company’s new image in Dar es Salaam, and noted that it was an important move that will increases the company’s presence in Tanzania where insurance sector is still in initial stages of development.
“This demonstrates our faith in Tanzania and regional at large. We are going to increase investment in the country, East Africa and other places where we operate,” said Mr Majal.
Sanlam group, the South Africa-based multinational financial services which listed on Johannesburg Stock Exchange (JSE) and the Namibian Stock Exchange (NSX) owns a 46 per cent stake in NIKO through its subsidiary firm SEM.