Group at a glance
The Sanlam Group consists of four core clusters, each of which is supported by the activities of the Corporate Office. The following section provides an overview of the various businesses and functions in the Sanlam Group, and identifies the extent to which the activities of each group fall within the boundary of this sustainable development report. The boundaries for the report are guided by the scope of our recently approved Sustainability Management Framework (SMF), which provides a clear set of roles and responsibilities for managing sustainability throughout Sanlam. (The SMF is reviewed here).
Corporate Office
The Corporate Office of the Sanlam Group is responsible for centralised functions that include strategic direction, Group financial and risk management, Group marketing and communications, Group human resources and information technology, Group sustainability management, corporate social investment and general Group services.For the purposes of our SMF and the boundaries of this report only the following six locations (covering approximately 70% of the physical footprint) are included: Sanlam head office (Bellville), Sanlynn (Pretoria), Sanlam Investment Management (Tygervalley), Glacier (Tygervalley), Sanlam Sky (Houghton), and Sanlam Capital Markets (Hyde Park).
SANLAM PERSONAL FINANCE
Cluster
Cluster profile and shareholding structure
(100% unless indicated)
Contribution to net result from financial services
The Sanlam Personal Finance (SPF) cluster is responsible for Sanlam's retail business in South Africa. It provides clients across all market segments (entry level, middle 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.
• Sanlam Sky Solutions – risk products for the entry-level market
• Sanlam Individual Life and Segment Solutions – financial services to the middle, professional and small/medium enterprises markets (includes Multi-Data electronic money transfer activities)
• Glacier – financial services for the affluent market
• Strategic business development – consists of the following diversified financial services:
– Sanlam Trust – estate and trust services
– Sanlam Liquid – debit card and saving facilities
– Sanlam Healthcare Management – 85% – medical scheme administration services
– Sanlam Linked Investments – linked product provider
– Sanlam Personal Loans – 70% – personal loans joint venture
– Reality – loyalty programme
– Anglo African Finance – 65% – trade and bridging finance
• Sanlam Personal Finance
• Other businesses
The performance and impacts of the whole of Sanlam Personal Finance (including Sanlam Sky) falls within the boundaries of Sanlam's SMF and our sustainable development report.
Sanlam Emerging Markets
Cluster
Cluster profile and shareholding structure
(100% unless indicated)
Contribution to net result from financial services
The Sanlam Emerging Markets (SEM) cluster is responsible for Sanlam's financial business services in emerging markets outside South Africa with the aim of ensuring sustainable delivery and growth across the various businesses that make up this cluster.
Retail and group business (financial solutions to all market segments)
• Botswana Life, Botswana – 54% via BIHL
• Sanlam Life, Namibia
• Sanlam Namibia Holdings, Namibia – 54%
• NICO Life, Malawi – 49%
• Pan Africa Life, Kenya – 50%
• African Life, Tanzania – 64%
• African Life, Zambia – 70%
• Enterprise Life Assurance, Ghana – 49%
• Sanlam Life, Uganda
• FBN Life, Nigeria – 35%
• Shriram Life, India – 26%
Investment Management
SIM Kenya – 72%
SIM Capital Alliance, Nigeria – 50%
SIM Namibia – 86%
Botswana Insurance Fund Management – 54% via BIHL
SIM Swaziland – 65%
General insurance
• Jointly responsible In partnership with Santam for managing general insurance business through NICO in some of the abovementioned African countries as well as through Shriram General Insurance in India
• Sanlam Emerging Markets
• Other businesses
Sanlam's SMF excludes all our operations outside South Africa. For the purposes of this report, the performance and impacts of Sanlam Emerging Markets is limited to SEM South African employees, and SEM Investments (which includes only subsidiaries and significant strategic influence entities as defined in the Group Governance Guidelines).
Sanlam Investments
Cluster
Cluster profile and shareholding structure
(100% unless indicated)
Contribution to net result from financial services
The Sanlam Investments cluster provides individual and institutional clients in South Africa, the UK and elsewhere in Europe, the United States and Australia access to a comprehensive range of specialised investment and risk management expertise through six sub-clusters and their businesses as outlined below.
Asset Management
• Sanlam Investment Management – manages institutional portfolios and retail collective investment (unit trust) funds
Wealth Management
• Sanlam Private Investments – private client wealth management and stockbroking business
• Calibre Investments – 40% – Australian investment business
• Merchant Securities Group plc – 75% – UK stockbroking firm
• Summit Trust – 65% – international independent trust services group in Switzerland
• Investment Advisory Service and Fiduciary and Tax Services
Capital Management
• Sanlam Capital Markets
• Sanlam Private Equity
• Sanlam Structured Solutions – Derivatives
• Sanlam Properties
Sanlam Employee Benefits
• Sanlam Group Risk
• Sanlam Structured Solutions
• Sanlam Umbrella Solutions
• Sanlam Retirement Fund Administration (Coris platform); and
• Simeka Consultants and Actuaries.
• Sanlam Investments
• Other businesses
Sanlam's SMF does not cover our operations outside of South Africa. In the rest of Africa and India we operate through joint ventures and partnerships; often through minority equity participation.
Santam
Cluster
Cluster profile and shareholding structure
(100% unless indicated)
Contribution to net result from financial services
Sanlam has an effective 60% interest in Santam, which is the leading short-term insurer in South Africa with a market share of 23%. Santam specialises in short-term insurance products for a diversified market in South Africa and, in collaboration with Sanlam Emerging Markets, elsewhere in Africa and India. These products are offered through broker networks and direct sales channels and include personal, commercial, agricultural and specialised insurance products.
• Santam
• Other businesses
The Santam cluster is not included within Sanlam's SMF and thus falls outside the boundary of our Sustainability Report. A detailed review of Santam's sustainability performance is provided in Santam's own annual sustainable development report, available at www.santam.co.za.