In a fast-changing world, the ability to adapt has become a leading indicator of future success. Our strategy served us well over the past decade and provided a strong base. However, our changing landscape necessitated a quantum leap to unlock further value for our stakeholders in the current and future environment. We therefore undertook an in-depth strategy review during the year. Our strategy is enabled by our employees; data and digital transformation; continuous culture development; innovation; and partnerships.
Sanlam is one of the biggest internationally active insurance groups and is classified as a domestic systemically important financial institution in South Africa. Due to our potential impact on the system and the inter-connected nature of financial services, the ability to effectively manage complex risks has to be a key capability.
Risks are managed on a preventive basis through various risk management activities. Should they materialise, Sanlam’s financial capital is available to absorb the financial impact and ensure we remain solvent and able to honour the commitments made to our clients.
Understanding Sanlam’s strategic risks and opportunities