Assurance: Sanlam Morocco Completes the Merger and Acquisition of Allianz Morocco
Extraordinary General Meetings of Sanlam Morocco and Allianz Morocco
On July 2, 2026, in Casablanca, the Extraordinary General Meetings of Sanlam Morocco and Allianz Morocco validated the merger-absorption project, with Allianz Morocco merging into Sanlam Morocco. This strategic move represents a significant milestone in the collaboration between the two insurance companies, paving the way for the creation of a stronger player in the Moroccan market.
The merger entails the transfer of all assets and liabilities from Allianz Morocco to Sanlam Morocco, in accordance with current legal and regulatory provisions.
Regulatory Conditions Fulfilled
Before finalizing the transaction, Sanlam Morocco confirmed that all the suspensive conditions outlined in the merger process had been satisfied.
The operation received approval from the Moroccan Capital Market Authority (AMMC) for the merger prospectus, granted on June 15, 2026. Additionally, it obtained authorization from the Insurance and Social Welfare Supervisory Authority (ACAPS) in compliance with insurance code requirements. The merger was also approved by the shareholders of Allianz Morocco during their Extraordinary General Meeting.
Increase in Sanlam Morocco’s Capital
As part of this operation, Sanlam Morocco will increase its share capital by 122.5 million dirhams. The capital will thus rise from 411.69 million to 534.19 million dirhams through the issuance of 1,225,000 new shares, each with a nominal value of 100 dirhams.
These shares will be allocated to the shareholders of Allianz Morocco based on an exchange ratio of five Sanlam Morocco shares for every two Allianz Morocco shares.
New Shares to be Listed Starting July 8
The newly issued shares will be listed on the Casablanca Stock Exchange starting July 8, 2026.
From an accounting and tax perspective, the merger will take effect retroactively from January 1, 2026, in accordance with the terms established in the operation.
A New Chapter for the Group
Through this merger, Sanlam Morocco aims to strengthen its position in the national insurance market by leveraging the complementary expertise of both companies.
In a statement issued alongside this announcement, the group emphasized that this operation marks the culmination of the rapprochement process initiated between Sanlam Morocco and Allianz Morocco. It opens a new phase of development based on the pooling of skills, resources, and know-how from both entities, benefiting policyholders, partners, and employees alike.
