Zurich has sold insurance businesses in Taiwan and Morocco and says reshaping its geographic footprint is among its highest priorities over the next two years.

The Taiwan general insurance operations have been sold to Hotai Motor after Zurich decided they offer limited scope for an operating scale that warrants continued investment.

“The sale… marks an important milestone in our efforts to solidify our geographical footprint in Asia-Pacific,” General Insurance CEO for Asia-Pacific Stuart Spencer said.

The Swiss-based insurer also announced last week it has sold a Moroccan insurance business to Allianz for €244 million ($372 million).

Zurich Assurances Maroc ranks seventh in Morocco’s property and casualty market, serves more than 600,000 customers and last year generated €114 million ($174 million) in gross written premium.

The company also has a licence for life and health insurance products, which Allianz plans to use.

Allianz says Morocco is Africa’s second-largest insurance market after South Africa.

“This deal is a major milestone for our strategy to expand in Africa,” Sergio Balbinot, Allianz board member in charge of the region, said.

“Morocco presents good growth prospects for both personal and commercial lines.”