German Allianz Group, one of the world’s largest insurers, has set up Allianz Maroc following the acquisition of 98.9 pc of Zurich Assurances Maroc and after obtaining the relevant regulatory approvals.
“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, COE 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” said Hicham Raissi, Head of Allianz SE’s Business Divisions for Africa, MENA and India.
“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”, he added.
Allianz Maroc seeks to double its market share by 2021 and become the benchmark in the African country’s insurance market. To this end, the company says it will further orient its offerings around multiple customer segments to provide more targeted and personalized value propositions.
Allianz Maroc employs 215 employees. Its network includes over 160 agents, brokers, and partners. It pledges to use digital channels to communicate with customers in real time and quickly handle claims.
It also pledges to develop synergies with other Allianz entities, including Euler Hermes, to better serve business customers interested in expanding or exporting to other African markets.
The Allianz Group serves 86 million retail and corporate customers in more than 70 countries, making it one of the world’s largest insurers and asset managers.
In 2016, over 140,000 employees worldwide achieved total revenues of €122.4 billion and an operating profit of €10.8 billion. Allianz Group managed an investment portfolio of €653 billion.
Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property and health insurance to assistance services to credit insurance and global business insurance.
As an investor, Allianz is active in a variety of sectors including debt, equity, infrastructure, real estate and renewable energy.