Allianz International Group announced the completion of its strategic alliance with the South African Sanlam Group, after obtaining all licenses from the relevant authorities, in order to integrate their insurance services in Egypt among 27 other African countries in a joint project that constitutes the largest insurance company on the African continent.
Allianz stated in a statement that this strategic alliance represents a turning point in the insurance industry in Africa, as the new entity will create greater value for all stakeholders. By increasing investments, exchanging knowledge and experiences, expanding geographically into new markets, and providing more diverse and customized products and services to serve its customers; This is with the aim of achieving targeted growth and prosperity in African countries to create a better future for future generations.
She stressed that this alliance comes within the framework of the Allianz Group's global strategy to expand into the African market. This is for the purpose of increasing growth and maximizing the value of the insurance services and solutions provided to its customers in order to meet all their needs, which contributes to the development of the insurance sector.
She noted that all activities of the Allianz commercial group and its brand in Egypt will remain as they are in the current period, without any change in management, policies, contracts or services, with its commitment to all agreements and contracts concluded.
According to the statement, the goal of the alliance is to maximize the group’s capabilities by exchanging knowledge and enriching its experiences, whether in areas of work or expanding into new markets, in addition to enriching the experiences of its employees and opening their horizons towards new approaches to work that would unleash their potential and help them develop at the professional levels. And personal, benefiting from Sanlam's expertise in the African market and Allianz's global expertise, which opens the door to many promising development opportunities.