SA Life was incorporated as Foundation Insurance Company to transact Life Assurance Business in 1989. The company officially changed its name to Standard Alliance Life Assurance Company Limited on May 20th 1999, after acquisition. It commenced full operation in January 2000.

SA Life has successfully complied with the National Insurance Commission's insurance consolidation/recapitalization policies as at February 28, 2007.

Being a specialist company in life insurance products, it focuses its businesses on savings and investment-linked life assurance as well as group life and annuity policies. Its core values and qualities centre on product innovation and excellent customer service.

SA Life is a member company of SA Investment Group, a high profile and technology driven Financial Services Group in Nigeria with varied interests in Banking, Pension Fund Management, Stock Brokering, Manufacturing and Information Technology. SA Investment Plc has a diverse shareholding structure which helps the company leverage on expertise from several industry professionals.