Alianz €244 million acquisition of Zurich Assurances Maroc

Overview:

• German financial services company Allianz has entered into a binding agreement to acquire Moroccan insurance company Zurich Assurances Maroc for €244 million.
• The Moroccan company is a subsidiary of Swiss insurance company Zurich, and is one of the largest insurance companies in the North African country.
• The move is further evidence of Allianz's view of Africa as a an important growth market, marking the companies fifteenth active country on the continent.
• KPMG advised Allianz on the financial aspects of the transaction and Milliman on the actuarial aspects.

John Crabb - Journalist