Allianz-Togo is now owned by SUNU insurances

Finance

Monday, 06 May 2019 15:58

Allianz-Togo is now owned by SUNU insurances

(Togo First) - Allianz-Togo is now owned by SUNU Group. The shift does not only affect the Togolese subsidiary of the Allianz Group.

Indeed, the operation concerns the group’s subsidiaries in Benin, Burkina Faso (life, fire, accidents and risks insurances) and Mali.

According to the joint statement revealing the information, these units “are now part of the SUNU Group and will be renamed SUNU Insurance after necessary approvals are secured.”

“All commitments that Allianz has with its partners, customers, brokers and workers will be kept by the SUNU Group, so as to guarantee a service of optimal quality and one of the best insurance service in the market,” the statement reads.

“This operation aligns with Allianz Africa’s strategy to grow its footprint in high-growth countries while maintaining the profitability level expected by the group. SUNU Group is a valuable partner and a solid pan-African actor,” said Coenraad Vrolijk, regional managing director and member of Allianz Africa’s executive regional committee.

With Allianz-Togo’s takeover, SUNU Insurances has finalized the purchase of the majority of the stakes of former Banque Populaire pour l’Epargne et le Crédit (BPEC), a move it initiated some months ago to expand its network in Togo and the region.

Séna Akoda

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