Join on WhatsApp
Join on Telegram
Marrakech – Morocco’s insurance sector entered a new phase. The extraordinary general assemblies of Sanlam Maroc and Allianz Maroc, convened on Wednesday in Casablanca, approved the merger-absorption of Allianz Maroc by Sanlam Maroc. The deal transfers the entirety of Allianz Maroc’s assets and liabilities to Sanlam Maroc.
The approval followed the lifting of all conditions precedent attached to the merger. These included the visa granted by the Moroccan Capital Markets Authority (AMMC) on June 15 under reference VI/EM/020/2026, the authorization issued by the Insurance and Social Welfare Supervisory Authority (ACAPS) in accordance with Article 230 of the Insurance Code, and the formal approval of the operation by Allianz Maroc’s own extraordinary general assembly earlier that same day.
With those conditions met, the merger became final.
As part of the transaction, Sanlam Maroc’s extraordinary general assembly approved a capital increase of MAD 122.5 million ($12.25 million). The move raises the company’s share capital from MAD 411.69 million ($41.17 million) to MAD 534.19 million ($53.42 million). The increase will be carried out through the issuance of 1,225,000 new shares at a nominal value of MAD 100 ($10) each.
The new shares will be allocated to Allianz Maroc’s shareholders at an exchange ratio of five Sanlam Maroc shares for every two Allianz Maroc shares. Their admission to the Casablanca Stock Exchange is scheduled for July 8.
On the accounting and fiscal fronts, the merger will take retroactive effect from January 1, 2026. This allows the financial results of both companies to be consolidated within a single entity for the full fiscal year.
The merged company is also set to undergo a name change. Sanlam Maroc’s shareholders will convene again on July 8 to vote on rebranding the company as “SanlamAllianz Maroc,” subject to ACAPS authorization.
The merger reflects a broader pan-African consolidation already underway between the Sanlam and Allianz groups across nearly 18 countries on the continent. In Morocco, the combined entity will bring together the networks, operational capacity, and product portfolios of both insurers.
Sanlam Maroc moved quickly to reassure existing clients. The company confirmed that all contracts, guarantees, and service terms remain unchanged until their expiration dates. Policyholders will keep the same intermediaries and customer service contacts.
Existing claims will continue to be processed without interruption. Client benefits and history will also be fully preserved.
The company said the integration would proceed gradually. It outlined plans for streamlined service processes, expanded access through the combined network of partners, including garages and clinics, and the progressive introduction of new products and digital tools.
Sanlam Maroc described the operation as the conclusion of a process launched several months earlier. The company said it would build on the complementary expertise, shared resources, and combined capabilities of both entities to serve policyholders, partners, and employees.
The vote results from both assemblies will be published on Sanlam Maroc’s website.
Read also: Sanlam Launches Morocco’s First Pet Health Insurance for Cats and Dogs
