Finance

Allianz to enter the electric vehicles sector in Morocco  

Monday, 14 January 2019 17:02
Allianz to enter the electric vehicles sector in Morocco  

(Ecofin Agency) - On January 12, 2019, the German insurance group Allianz and the industrial group Imperium Holding launched Emob, a sustainable development solution firm in Morocco. In the coming years, this joint-venture will build an electric and less polluting cars and bikes’ production unit.

With this new company, the German insurer wants to position itself in the cars and bikes insurance niche that it considers as a developing sector that will likely meet its clients’ requirements in terms of cost, impact on the environment and durability.

Allianz entered the Moroccan market in 2016 with the acquisition of Zurich Assurance Maroc at MAD2.6 billion. In October 2018, the local subsidiary launched a new insurance product named "Allianz Chifaa" in the health sector.    

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