Sanlam Developing Markets (SDM) is a wholly‑owned subsidiary of Sanlam Life Limited and is one of the top financial services providers in the South African market, particularly focused on the entry‑level and emerging middle market. SDM offers a broad range of simple, affordable financial solutions such as funeral insurance, savings for education, life cover and personal accident plans. The business is managed within the Sanlam Group Governance Policy under the SA Retail Mass cluster, part of the Sanlam Life and Savings cluster, focusing on retail products and group schemes.