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Sanlam Maroc Finalises Absorption of Allianz Maroc with MAD 122.5M Capital Boost
The extraordinary general meetings of Sanlam Maroc and Allianz Maroc convened on July 2, 2026, in Casablanca approved the absorption of Allianz Maroc by Sanlam Maroc. All regulatory conditions – including the AMMC prospectus visa, ACAPS authorization and Allianz’s shareholders’ consent – have been satisfied, making the merger official. Sanlam Maroc will raise its share capital by MAD 122.5 million, issuing 1.225 million new shares to Allianz shareholders at an exchange ratio of 5 Sanlam shares for every 2 Allianz shares. The new shares will debut on the Casablanca Stock Exchange on July 8, 2026, and the merger will be accounted for retroactively from 1 January 2026, ushering in a new growth phase for the combined insurer.
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Merger approved by extraordinary general meetings
On July 2, 2026, the extraordinary general assemblies of Sanlam Maroc and Allianz Maroc, convened in Casablanca, voted to complete the absorption of Allianz Maroc by Sanlam Maroc. Under the deal, Allianz Maroc transfers its entire assets and liabilities to Sanlam Maroc.
Regulatory approvals cleared
Sanlam Maroc confirms that all suspensive conditions have been satisfied, including the AMMC’s prospectus visa (ref. VI/EM/020/2026 issued June 15, 2026), the ACAPS authorization under the Insurance Code, and the approval by Allianz Maroc’s extraordinary shareholders’ meeting.
Capital increase and share exchange
The Sanlam Maroc extraordinary general meeting approved a capital increase of MAD 122.5 million, raising the share capital from MAD 411.7 million to MAD 534.2 million. The increase will be carried out by issuing 1,225,000 new shares with a nominal value of MAD 100 each, allocated to Allianz Maroc shareholders on an exchange ratio of 5 Sanlam shares for every 2 Allianz shares. The new shares are slated to start trading on the Casablanca Stock Exchange on July 8, 2026.
Accounting and tax treatment
For accounting and tax purposes, the merger is effective retroactively from January 1, 2026.
Strategic outlook
The completion marks the end of a long‑running integration process and paves the way for a combined insurer with broader expertise, resources, and product offerings for policyholders, partners and employees.