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Sanlam secures AAA rating by Fitch

 

Sanlam Life Insurance Limited and Sanlam Developing Markets Limited in South Africa have been upgraded to AAA grade by Fitch Ratings.  Fitch describes companies with a AAA rating as “the best quality companies, reliable and stable.”
 
Fitch Ratings provide statistical ratings and is one of the three rating agencies which are nationally recognised.
 
Fitch has also upgraded Sanlam UK’s parent and the ultimate holding company of the Sanlam group, Sanlam Limited's (Sanlam) national long-term rating from ‘AA-‘ to 'AA+’.
 
The upgrades reflect the Sanlam group's continued strong business position, capitalisation and operating performance relative to its peers, which it has maintained despite a worsening operating environment.
 
Sanlam's well-established and diversified business position is a key rating strength. Sanlam sells a wide range of investment, insurance and other personal finance products to individuals and institutional clients across its global footprint to over 50,000 clients.
 
Jonathan Polin, Chief Executive, Sanlam UK said: “Fitch is a highly respected ratings agency and securing this rating – which is higher than the UK’s overall credit rating - will reinforce the credibility of our investment proposition to advisers and clients. We are particularly pleased that the rating has acknowledged the strength of our investment process and proposition.
 
The strength of our parent company is the foundation that allows Sanlam UK to grow. As a single, unified business, with Sanlam’s significant global strength to support our development we are optimistic about the future success of our UK operations.”
  
-Ends-
 
 
Notes to editors
 
Sanlam Limited is an international AA+ rated financial services group with a listing on the Johannesburg Stock Exchange and a market capitalisation of £7 billion. Established in 1918, the group provides a range of services to over 10 million clients globally, including insurance, financial planning, investments and wealth management.
 
Sanlam UK is led by CEO Jonathan Polin. The firm consists of a number of long established businesses, including:
 

  • Sanlam Wealth Planning: The national financial adviser with £1 billion of client assets under advice and 80 UK-based advisers
  • Sanlam Private Wealth: The discretionary fund manager with £2.2 billion of client assets under management
  • Sanlam Investments & Pensions: The life and pensions business with in excess of £1.6 billion of assets under administration
  • Sanlam FOUR: The boutique asset management and fund business which manages over £4.2 billion in both single strategy and long only funds and specialist multi-asset solutions. In total, the firm has nearly £9 billion of assets under management or influence
  • Sanlam UK attained its size, strength and reputation by leveraging the benefits of having a large secure South African parent company while focussing on individual client service delivered locally in the UK.

 
 
For more information please contact:      
Teamspirit Public Relations on
0207 360 7877 / Sanlam@teamspiritpr.com
 

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