Fitch Ratings confirms its rating for Sanlam and its subsidiaries

Fitch Ratings has affirmed Sanlam's 'AA+' long-term national rating. The rating agency also confirmed the "AAA" financial strength ratings of Sanlam Life, Sanlam Developing Markets (SDM) and Santam. The outlook remains stable.

The rating reflects the South African group and its subsidiaries' strong profile, capitalization and performance.

According to Fitch Ratings, a strategic partnership with Germany's Allianz to form a joint venture is likely to strengthen Sanlam's position as the largest insurance group in Africa.