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Transfer from Channel Life to SDM

12 March 2020

Proposed Transfer Agreement between Channel Life Limited and Sanlam Developing Markets Limited.

Channel Life Limited (“Channel Life”) and Sanlam Developing Markets Limited (“SDM”) have entered into a proposed transfer agreement whereby all policies currently underwritten by Channel Life, will be transferred to SDM. Channel Life and SDM are both wholly owned subsidiaries of Sanlam Life Insurance Limited.

This transfer will take place pending the approval of the Prudential Authority, and if the application to transfer the business from Channel Life to SDM is confirmed, SDM will be the insurer of these policies.

All documentation relating to this transaction are available below:

A1 Channel Transfer OF1 and OF2

A2 Transfer Agreement Channel – SDM Signed

A4.1 Channel Life Signed AFS 2018

A4.2 SDM Signed AFS 2018

A7.1 HAF report on Channel transfer – Channel final

A7.2 HAF report on Channel transfer – SDM final

B1 True South_Snl_Transfer final

C6 Document F (FAQ for policyholders)

IF024 Approve Transfer of Assets and Liabilities

If you have any concerns and would like to make any representations about the Proposed Transfer, you may contact the Prudential Authority on the contact details provided below. This must be done within 15 days of the date of publication of the Proposed Transfer notice in the Government Gazette on 20 March 2020.

Prudential Authority:

Email:SARB-PA@resbank.co.za

Fax number: 012 313 3197

Postal address: P.O. Box 427, Pretoria, 0001

They will also be available for inspection for a period of 15 days from 20 March 2020 until 9 April 2020 at the following Sanlam offices:

  • Corner of Oxford & Glenhove, 116 Oxford Road, Block A, 1st Floor, Rosebank, Johannesburg, 2196; and
  • 13 West Street, Houghton Johannesburg, 2196.

If you have any queries, please contact the Channel Life Call Centre on 0860 480000.

Sanlam Life Insurance is a licensed financial service provider.
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