Forty years: protection, isolation, and diversification, 1945–1985

Abstract

In tandem with international economic growth, Sanlam displayed progressive growth in the insurance and investment markets between 1945 and 1985. In a period of mounting political opposition against the National Party Government, international sanctions resulted in protectionist policies, which limited investment opportunities to the financial sector. Growing concentration and inward-looking industrial policies offered insurance companies investments outside insurance. Sanlam diversified extensively outside insurance in property and industrial conglomerates. By 1985 this portfolio called for strategic redirection. Afrikaner empowerment resulted in a notable presence of Afrikaners in industry and mining, with Sanlam as anchor shareholder. In 1954 the Sanlam Private Act terminated the parent relationship with Santam. Sanlam rose to the second position amongst long-term insurers in South Africa, using product innovation, technology, and distribution innovation.