Allianz launches operations in Morocco

New insurance company aims to double its market share by 2021 and become the industry benchmark

Allianz launches operations in Morocco

Insurance News

By Louie Bacani

Not too long after insurance giants RSA and Aon announced their expansion moves in Africa, another industry heavyweight has increased its presence on the continent. Major insurer Allianz has officially entered the Moroccan market with the launch of a new company.
Allianz Maroc began its operations on January 30, although it has been part of the German insurer since November following the acquisition of 98.9% of Zurich Assurances Maroc.
According to Allianz, its Moroccan business aims to double market share by 2021 and become the benchmark in the African country’s insurance market.

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Customer satisfaction will be the first priority for Allianz Maroc, which will orient its offerings around multiple customer segments to provide more targeted and personalised value propositions.
Allianz Maroc will focus on digital channels to communicate with customers in real time and quickly handle claims. It will also develop synergies with other Allianz entities, including Euler Hermes, to better serve business customers interested in expanding or exporting to other African markets. The company is also launching a communication campaign to boost its brand reputation.
“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 Allianz Maroc CEO Dirk De Nil.
Allianz said Morocco is an important growth market in its strategy in Africa as the country has positioned itself as a hub for the continent.
“Our investment in Morocco shows that we believe in the growth potential of the Moroccan insurance market,” said Hicham Raissi, Head of Allianz’s business divisions for Africa, MENA and India.
“We will accompany our retail and business clients in Morocco and all over the world, while providing superior quality service,” Raissi added.
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