The reinforcement of the South African group Sanlam in the share capital of Saham Assurance Maroc announced last May will not take place. This is according to a press release published on Tuesday, January 4 by the insurer.

This announcement comes in a context marked by discussions initiated by Sanlam with the German insurer Allianz for the acquisition of the entire group in Africa with the exception of South Africa. If the transaction is successful, the new conglomerate born of this alliance in the making will become the leader in several strategic markets including Morocco, as indicated last December by 'Financial Afrik' which gave the information exclusively. A major player in the local market, the insurer achieved, at the end of September 2021, an overall turnover of 4.35 billion DH (around 470 million USD), an annual increase of 9.5%.