An ethical culture

Our core values support our commitment to developing stakeholder trust and set the foundation for professional and ethical behaviour.


To support and develop mature governance and ethics structures and processes in all the markets where Sanlam operates, all companies across the Group are expected to adhere to and confirm compliance with Sanlam’s governance principles, including the Code of Ethical Conduct, in their respective annual Board representation letters. The Group continually engages with internal stakeholders to ensure that there is a common understanding of how to report on ethical matters and the types of ethics breaches to be included in reporting.

Our approach to good governance

Organisational ethics

Group Business Philosophy areas of guidance

An entrepreneurial culture

Traditional values


Stakeholder value

Strong ties with business partners

Client centricity

Solution oriented Business responsibility

Taking responsibility

An ethical culture flourishes in an environment where transparency and clarity are evident. For a financial services group, ethics is further directed by regulation and governance requirements. The Insurance Act, 18 of 2017 and the King Report on Corporate GovernanceTM for South Africa, 2016 (King IV™)1 require that the Board takes ownership of and responsibility for governance, provides ethical leadership, and sets out how relationships and decision making should be approached.

The Prudential Standards on the Governance of Insurance Groups and the Financial Sector Regulation Act, 9 of 2017 also require that the controlling company of an insurance group must establish an effective governance framework that provides for sound and prudent management of the insurance group’s business, including adequate protection of the interests of policyholders.


Lead with courage to earn our clients’ trust

Serve with pride as we are client focussed

Caring that comes from respect for each other

Winning with integrity to be the unrivalled industry leader in Africa

Creating value in everything that we do

Our leadership

The Sanlam Board oversees a group of companies that have been in business for more than a century. Its role includes safeguarding this legacy while ensuring that the Group continues to empower generations to be financially confident, secure and prosperous.

View more on our leadership

Remuneration and performance

The Board recognises that appropriate remuneration for Sanlam executive directors, members of its Executive committee and other employees is inextricably linked to the attraction, development and retention of top-level talent and human capital. Given the current economic climate, changes in the regulatory requirements and the ongoing war for talent, it is essential that adequate measures are in place to attract and retain the required skills. To meet the strategic objectives of a high-performance Group, our remuneration philosophy rewards exceptional performance and maintains that performance over time.

Our policies

Our committee charters