Al Maghribia Takaful, new subsidiary of La Marocaine Vie

La Marocaine VieAl Maghribia Takaful, a wholly owned subsidiary of La Marocaine Vie, is launching its activities in Morocco. The new entity has obtained an approval from ACAPS to practice takaful operations (family, investment and general).

The Moroccan insurer has also received the approval of the participative bank Dar Al Amane to operate as an insurance intermediary in the Kingdom.

As a starting service, the participative subsidiary is proposing a takaful coverage intended for the beneficiaries of Mourabaha financing, followed by the marketing of a comprehensive insurance product aimed at individuals and corporations. These solutions will be distributed through Dar Al Amane's branch network.

The company is planning to expand its range of products in the future, especially in property damage insurance. Al Maghribia Takaful aims at multiplying its network by four, from the current 14 branches to 50 by 2025.

Abdelkrim Fazazi has been appointed General Manager of Al Maghribia Takaful. This appointment became effective on 1 June 2022.

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