Wafa Assurance acquires Allianz Morocco sales outlets

Wafa Assurance signed an agreement with Allianz Morocco on 9 September 2025, to acquire a number of its sales outlets. Subject to approval by the relevant authorities, the deal is expected to close by the end of 2025.

Through this acquisition, Wafa Assurance aims to strengthen its distribution network by expanding its geographic footprint, particularly in areas where it previously had no presence.

For Allianz Morocco, the sale is part of the commitments made by SanlamAllianz Africa to the Competition Council during the merger of the Sanlam and Allianz groups.

In its review of the merger, the Competition Council found that the simultaneous presence of both Allianz and Wafa in 16 Moroccan cities could negatively impact competition in the local insurance market.

Allianz Morocco and Sanlam Morocco will continue to operate as separate entities within the Kingdom.