Allianz Maroc Transfers Agencies to Wafa Assurance to Comply with Competition Council Requirements

Sanlam Allianz Africa Pty Ltd has announced a significant step in fulfilling its commitments to the Competition Council. This step addresses concerns regarding the concentration of insurance distribution capabilities in specific locations, necessitating a reduction in the size of the exclusive network in those areas. To this end, Allianz Maroc has reached an agreement with Wafa Assurance for the transfer of the affected sales points. "This agreement will ensure continuity for policyholders and provide sustainable development opportunities for intermediaries in the relevant locations," stated Fahd Mokdad, Managing Director of Allianz Maroc. He added, "We are confident that Wafa Assurance, a key player in the Moroccan insurance market, is the ideal partner for this operation. Allianz Maroc remains fully committed to supporting all stakeholders involved in this transition." This operation is subject to approvals from the relevant authorities and other closing conditions. It represents a step in a broader process that includes additional commitments made to the Competition Council and is expected to be finalized by the end of the year. Allianz Maroc and Sanlam Maroc will continue to operate and compete as distinct entities. On this occasion, Fahd Mokdad mentioned that Allianz Maroc is actively reviewing its geographical footprint. "We will strengthen our presence by opening new sales points in areas where there is no risk of concentration in distribution activities. Allianz Maroc will continue to modernize its systems, optimize customer journeys, adapt its offerings, and prepare for market changes," he concluded.