ACAPS holds its third Board Meeting.

The Supervisory Authority for Insurance and Social Welfare "ACAPS" held on Friday, October 14, 2016 its third Board meeting under the chairmanship of Mr. Hassan BOUBRIK.

At this meeting, and in accordance with Article 15 of Law 64-12, the Board voted favorably to granting approval to Chaâbi Assistance.

The Board also underlined the importance of the Authorization of the Allianz Group, by the Authority, to operate in the Moroccan market, given the positive impact that the entry into the Moroccan market of this group will have, particularly in terms of market development and improvement of services to policyholders and beneficiaries of contracts.

The transaction concluded by Allianz concerns the acquisition of all of the Zurich Group's shares in ZAM (Zurich Assurance Maroc), representing 98.9% of the capital (68.8% held through Zurich Insurance Co. and 30, 1% through MAROFINAC).

The Board has also appointed directors to the Authority:

Mr. Mohammed BOUZAABOUN: Director of Support;

Mr. Mimoun ZBAYAR: Director of Regulation and Standardization of Insurance;

Ms. Siham RAMLI: Director of Communication and International Relations.