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Allianz to sell off businesses in five African countries

Posted On: Mar. 22, 2019 5:46 AM CST

Germany-based insurer Allianz S.E. is selling its businesses in five African countries to France-based Sunu Finances Holding S.A., The Africa Report reports. Allianz will divest from its businesses in Benin, Burkina Faso, Mali, Togo and the Central African Republic while continuing to operate in some francophone countries through partnerships with local players. Allianz took the decision due to higher regulatory capital requirements in countries under the Inter-African Conference of Insurance Markets from May 31.

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