Allianz rebrands Moroccan subsidiary acquired from Zurich
Allianz Group has officially launched its Moroccan unit that the company acquired in 2016 from Zurich Insurance. It began operations in January 2017 under the new name Allianz Maroc.
Allianz had acquired Zurich Assurances Maroc for €244 million in November 2016.
"We are confident that we have all the means necessary to claim a greater position in the Moroccan insurance market and will continue to grow faster and in a sustainable way," said Dirk De Nil, chief executive officer of Allianz Maroc. "Morocco is an important growth market in Allianz's strategy in Africa. The country has positioned itself as a hub for the continent."
Hicham Raissi, head of Allianz SE's business divisions for Africa, MENA and India, added: "Our investment in Morocco shows that we believe in the growth potential of the Moroccan insurance market. We will accompany our retail and business clients in Morocco and all over the world, while providing superior quality service."
Today’s top stories
Profits tumble at Swiss Re yet growth surges
Greenlight Re heads back into profit as it resolves legacy issues
CFO of XL Group to retire; successor revealed
Alleghany enjoys solid growth but headwinds dent profits
Swiss Re group CUO quits to ‘start new chapter in life’
Did you enjoy reading this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
