Aluko & Oyebode Advised On The Merger Of Sanlam And Allianz’s Nigerian Insurance Entities
Aluko & Oyebode Advised On The Merger Of Sanlam And Allianz’s Nigerian Insurance Entities
Leading Nigerian law firm Aluko & Oyebode advised on the successful merger of the Nigerian subsidiaries of SanlamAllianz Africa (Pty) Limited (the “Joint Venture”), comprising Sanlam Life Insurance Nigeria Limited, Sanlam General Insurance Nigeria Limited, and Allianz Nigeria Insurance Limited.
The merger resulted in the formation of Sanlam Allianz Life Insurance Nigeria Limited and Sanlam Allianz General Insurance Nigeria Limited, following receipt of all necessary regulatory approvals, including from the National Insurance Commission, and the sanction of the transaction by the Federal High Court of Nigeria.
As part of the reorganisation, the life insurance business of Allianz Nigeria Insurance Limited was transferred to Sanlam Allianz Life Insurance Nigeria Limited, while its general insurance business was transferred to Sanlam Allianz General Insurance Nigeria Limited.
This transaction builds on the firm’s previous role in advising Allianz SE and Sanlam Limited on the establishment of the Joint Venture, a South African–incorporated entity that consolidated their respective African insurance operations under a unified holding structure.
The Aluko & Oyebode team advising on the transaction was led by Ayodeji Oyetunde (Partner), with support from Adeola Kembi (Managing Associate), Michael Nwanneka (Senior Associate), Gregory Yinka-Gregg (Senior Associate), Oluwadamilola Oniyire (Associate), and Chidozie Chikwe (Associate).
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