Sustainable development report 2015 | Annual report 2015

About us

Operational structure

The Group Office of the Sanlam Group is responsible for a set of centralised functions, as shown below.

Our financial products and services are provided through four operating business clusters, each containing a set of entrepreneurial business units. Each cluster has its own board of directors with delegated authority levels governing the execution of the principles and standards set by the Sanlam Board.

Sanlam Ltd

We are a leading financial services group, originally established as a life insurance company in 1918. We demutualised and listed on the JSE Limited and the Namibian Stock Exchange in 1998. Our head office is in Bellville, Cape Town in South Africa.

Net result from financial services R7 269 million (2014: R6 879 million).

Sanlam Group Office

Responsible for Group strategy, capital management and capital allocation to clusters. The following Group functions provide Group-wide support and coordination: Finance || Actuarial and Risk Management || Information Technology || Human Resources || Market Development || Brand Services.

Net result from financial services -R109 million (2014: -R107 million).

Sanlam Personal

Contribution to Group net result from financial services: 53%

Responsible for Sanlam’s retail business in South Africa. It provides clients across all market segments (entry-level, middle-income and affluent) with a comprehensive range of appropriate and competitive financial solutions. Designed to facilitate long-term wealth creation, protection and niche financing, these solutions are engineered around client needs.

Net result from financial services R3 831 million (2014: R3 476 million).

Sanlam Emerging

Contribution to Group net result from financial services: 16%

Responsible for Sanlam’s financial services offering in emerging markets outside South Africa with the aim of ensuring sustainable delivery and growth across the various businesses that make up this cluster.

Net result from financial services R1 197 million (2014: R1 241 million).


Contribution to Group net result from financial services: 19%

Provides retail and institutional clients in South Africa, the United Kingdom and elsewhere in the developed world (Europe, the United States of America, Australia) access to a comprehensive range of specialised investment management and risk management expertise.

Net result from financial services: R1 417 million (2014: R1 468 million).


Contribution to Group net result from financial services: 13%

Specialises in general insurance products for a diversified market in South Africa. These include personal, commercial, agricultural and specialised insurance products. Santam’s international diversification strategy focuses on reinsurance business, specialised insurance products and its role as technical partner and co-investor in Sanlam Emerging Markets’ expansion into Africa, India and South-East Asia.

Net result from financial services R933 million (2014: R801 million).

Our business model

We provide financial services solutions to retail and institutional clients across a number of market segments and geographies. In line with our philosophy of client-centricity and treating customers fairly, we provide appropriate advice and products to our clients, at a fair price, tailored to their specific needs and circumstances. This we achieve through the application of a number of resources, the most important of which are our people (financial, actuarial, risk management and other skills) and the financial capital that we hold as a safeguard against the risk of potential life events.

Wealthsmiths™ – our business philosophy

Our vision
To be the leader in client-centric wealth creation and protection in South Africa, leading that process in emerging markets and playing a niche role in developing markets.

The Sanlam Way
It is our resolve and diligent approach to creating and protecting wealth that sets us apart. We call it The Sanlam Way.

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Our business strategy

Sanlam’s business strategy has been in place for over 10 years – a period in which the Group has transformed itself from a mainly life insurance business to a diversified international financial services group. The strategy continues to serve Sanlam as we accelerate our organic growth and expand into new markets and will be driven by the Group’s leadership.

Sanlam’s business strategy is aimed at achieving adequate Return on Group Equity Value. This is dependent on building relationships and resources that support the long-term sustainability of the business. Our Sustainability Management Framework (SMF) outlines the five sustainability themes and the related material issues that we manage. The SMF provides the foundation on which the business strategy can be affected.