SanlamAllianz Life Insurance Nigeria — review & details
Formerly FBNInsurance and then Sanlam Life Insurance Nigeria, now part of the SanlamAllianz pan-African joint venture; NAICOM-licensed (RIC No. 050) with one of the stronger bancassurance distribution histories in the market.
Pan-African group
SanlamAllianz Life Insurance Nigeria
★★★★☆
Retail life (protection, savings and endowment-style plans) and corporate/group life; general cover via its sister general-insurance company
Products
NAICOM-licensed life insurer, RIC No. 050 (stated on its own site and on NAICOM's life register); NAICOM issued fresh licences under the SanlamAllianz name in 2025
Licence
Backing of Sanlam and Allianz — the largest pan-African non-banking financial services group — plus a 15-year Nigerian operating history through its FBN lineage
Strength
Buyers who prioritise a large multinational balance sheet behind their policy
Best For
insurer
Type
Pros
- Continuous Nigerian operating history since 2010 (as FBN Life, then FBNInsurance, then Sanlam Life)
- Sanlam and Allianz group backing brings deep reinsurance and actuarial resources
- Established distribution through bancassurance and agency networks, not just online channels
Cons
- Three rebrands in six years (FBNInsurance → Sanlam → SanlamAllianz) can make older policy documents and brand recognition confusing
- Less digital-native than newer rivals — expect more form-filling and branch/agent interaction for some products
- Published product detail on the Nigerian site is thin; you will likely need to speak to an agent for exact terms
Fees, eligibility & documents
Fees
PremiumsIndividually underwritten by age, term and sum assured — request a quote
Eligibility
- Nigerian resident within the plan's entry-age limits
- Valid means of identification
- Medical examination for larger sums assured
Documents needed
- Completed proposal form
- Valid government ID
- Passport photograph; medical report where underwriting requires it
How SanlamAllianz Life Insurance Nigeria compares in life insurance
| SanlamAllianz Life Insurance Nigeria | Leadway Assurance | AIICO Insurance | |
|---|---|---|---|
| Products | Retail life (protection, savings and endowment-style plans) and corporate/group life; general cover via its sister general-insurance company | Term, whole life, group life | Term, whole life, endowment, group |
| Licence | NAICOM-licensed life insurer, RIC No. 050 (stated on its own site and on NAICOM's life register); NAICOM issued fresh licences under the SanlamAllianz name in 2025 | — | — |
| Strength | Backing of Sanlam and Allianz — the largest pan-African non-banking financial services group — plus a 15-year Nigerian operating history through its FBN lineage | — | — |
| Best For | Buyers who prioritise a large multinational balance sheet behind their policy | Claims certainty | Life cover |
| Visit SanlamAllianz Nigeria → | Get a quote → | Get a quote → |
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