Insurance intermediaries Epega and Alpha Assurances have applied to the Moroccan Competition Council for approval for their strategic alliance.
The two intermediaries, both based in Casablanca, aim to combine their respective expertise in insurance and reinsurance brokerage. This will optimise their service offerings and improve the customer experience, reported The New Tribune quoting the two parties.
The proposed alliance is announced amidst the transformation of the insurance intermediation sector in Morocco, which is marked by intense competition, technological advancements and increased customer demand for quality services.
In a joint statement, the two intermediaries say that their proposed collaboration could lead to the creation of a large-scale brokerage group, bringing together more than 200 employees spread across six cities in Morocco with a production portfolio estimated at approximately MAD1.3bn ($141.8m).
Epega and Alpha Assurances state that they have yet to announce a timetable for the effective implementation of their strategic alliance because the matter is subject to review by the Competition Council.