Sanlam Eyes India Wealth Management as BlackRock, Jio Join Fray

Sanlam Ltd. is joining the race to enter India’s burgeoning asset- and wealth-management industry as Africa’s biggest insurer by market value seeks to tap opportunities in the world’s fastest-growing major economy.

The insurer plans to build out its partnership with Shriram Capital Group in the South Asian nation by adding an equal joint venture covering wealth and advice services, doubling down on an initial 2005 investment that has already delivered results in the credit and insurance spaces.

“A large number of people are breaking out of the real poverty trap, so they’re able to start focusing on providing for ...