SUNU Group acquires Allianz Congo Assurances

SUNU Group has acquired Allianz Congo Assurances, a subsidiary of Allianz Group. The Allianz Congo Assurances officially became part of SUNU Group since November 5, 2021, the date on which the acquisition and sale transaction between the SUNU and Allianz groups was finalised.

This was made known in a statement made available to journalists in Nigeria through its Nigerian company, SUNU Assurances.

According to the company, Allianz Congo Assurances will change its name to SUNU Assurances IARD Congo before the end of the first half of 2022.

Samuel Ogbodu, managing director, SUNU Assurances in a statement said that with this acquisition, SUNU Group enters the Congo-Brazzaville market, with the objective of offering companies, populations and institutions, as as all internal and external clients, solid and durable insurance.

He said: “The SUNU Group’s expansion strategy in Africa is continuing, following the creation of SUNU Assurances IARD RDC in 2020 and the strengthened presence of SUNU Assurances in Cameroon, Gabon and the Central African Republic in recent years.

“At the same time, the Group acquired the Allianz group’s stake in SUNU Assurances IARD Centrafrique, following a merger-absorption of ex-Allianz Centrafrique Assurances in 2019, increasing its share in the capital from 49.3 percent to 93.4 per cent.

“The Group’s ambition is confirmed with the offer of financial products and services in the majority of West and Central African countries. To date, SUNU Group is present in 16 countries with 30 companies including 25 insurance companies (9 Life and 16 P&C), one bank (SUNU Bank), 1 microfinance company (Kajas), 1 health management company (SUNU Health), 1 financial investment company (SUNU Investment) and 1 financial management company (Attica)”, he noted.

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