Sanlam Allianz Holdings (Kenya) PLC has announced plans to transfer the long-term insurance business of its wholly owned subsidiary, Sanlam Allianz Life Insurance (Kenya) Limited, to the parent company.
The proposed reorganization will transfer the subsidiary’s long-term insurance business to the parent as a going concern, along with related assets, liabilities and the insurance portfolio.
Sanlam Allianz noted that shareholders would approve a special resolution to change the company’s name in a statement dated October 15, 2026,
Shareholders will also consider corresponding amendments to the company’s Articles of Association at an EGM scheduled for Thursday, November 12, 2026, at 11 am.
“The Board of Directors of Sanlam Allianz Holdings (Kenya) PLC (“the Company”) wishes to inform shareholders and the investing public that the Company is planning to reorganize the structure of its Group. Under this reorganization, the Company’s wholly owned subsidiary, Sanlam Allianz Life Insurance (Kenya) Limited (Sanlam Allianz Life), would transfer all of its life insurance business,” part of the statement read.
Sanlam Allianz Issues Directives to Policyholders and Shareholders
The company said the restructuring is not expected to change the terms of existing insurance policies substantially.
Policyholders are expected to continue receiving services on substantially the same terms as their existing terms following the transfer.
According to the company, no third party will buy or acquire any stake in the company during the restructuring.
In addition, Sanlam Allianz Holdings emphasised that the reorganisation is also not expected to alter the listed company’s share capital, shareholding structure, control or listing on the Nairobi Securities Exchange (NSE).
Further, the company clarified that the business transfer does not require a specific shareholder approval resolution or a shareholder circular under the company’s provisions.
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Regulatory Approvals Required
The proposed transfer remains subject to approval from the Insurance Regulatory Authority (IRA), the Retirement Benefits Authority (RBA) and relevant authorities.
Sanlam Allianz Life Insurance (Kenya) Limited currently operates the long-term insurance business under the applicable regulatory framework.
The subsidiary is also involved in fund administration; however, after completing the transfer, the subsidiary is expected to surrender its insurance license and eventually be dissolved.
“Once the Proposed Reorganization is complete, Sanlam Allianz Life (the subsidiary) will surrender its insurance license and will eventually be dissolved,” the company noted.
According to the Board, the reorganization of the company will improve operational efficiency, streamline regulatory oversight and align the Group’s business structure with its long-term strategic objectives.
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EGM Registration Details
According to the company notice to stakeholders, Sanlam Allianz Holdings (Kenya) PLC has set November 10, 2026, at 11 am as the deadline for shareholders to register for its extraordinary general meeting (EGM) scheduled for November 12 at 11 am.
Registration opens on October 21 at 9 am. Shareholders can register by dialing *483# on any mobile network, email [email protected], or use a registration link sent to shareholders with registered email addresses.
Those registering will need the identification or passport number used to purchase their shares and/or their Central Depository and Settlement Corporation (CDSC) account number.
Shareholders requiring assistance, including those outside Kenya, can call Image Registrars on (+254) 709 170 000 between 9 am and 5 pm, Monday to Friday.
The company further directs that shareholders unable to attend the electronic meeting may appoint a proxy to participate and vote on their behalf.
Email or deliver completed and signed proxy forms to Image Registrars Limited, Fifth Floor, Absa Towers, Loita Street, Nairobi, by November 10 at 11 am.
Proxies must also submit their mobile phone numbers by the deadline.
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