Allianz Africa sold its shares in five subsidiaries

By: SUNU Group

Allianz subsidiaries in Benin, Burkina Faso, Mali and Togo are now part of SUNU Group 

Allianz Africa sold its shares in five subsidiaries in Benin, Burkina Faso (Life/P&C), Mali and Togo to Sunu Group, effective April 29, 2019. These entities are now part of the SUNU Group and will change their name to become SUNU Assurance upon receipt of regulatory approvals for the name change. 

These transactions are part of the respective strategic plans of the SUNU Group and Allianz Group and consistent with the efforts of the regional regulator CIMA to consolidate the markets. They will have no impact on policyholder contracts and ongoing partnerships. 

SUNU Group will honor all commitments made by Allianz to employees, customers, brokers and partners, with the objective of guaranteeing an optimal quality of service and an insurance offer among the best on the market. 

This move is in line with Allianz Africa’s strategy to gain market share on the continent with an increased presence in the fast-growing countries while maintaining the level of profitability expected by the Allianz Group. The SUNU Group is for us a partner of choice and a strong pan-African player who will pursue the efforts initiated by the Allianz Group in these four markets to deliver excellent customer service and products to our customers,” said Coenraad Vrolijk, Regional CEO and Regional Executive Board Member of Allianz Africa.