Axa Partners sells 80% of its shares in Axa Assistance Maroc to Mehdi Tazi

Meryem Chami, Adelane Mecellem and Mehdi Tazi. Credit Axa Insurance

Axa Partners, a subsidiary of the AXA group, sold 80% of its stakes in Axa Assistance Maroc on Tuesday to Expanso, Mehdi Tazi’s holding company, we learned from a press release.

This agreement provides that Axa Assistance Maroc will take over all the assistance activities of Axa Partners in African countries, excluding Algeria. For Mehdi Tazi, president of Expanso and general vice-president of the General Confederation of Moroccan Enterprises (CGEM), this participation will “to make Axa Assistance Maroc an insurtech, the African leader in assistance to people in emergency situations”.

According to Meryem Chami, Managing Director of Axa Assurances Morocco and CIMA (Senegal, Ivory Coast, Cameroon and Gabon), “Support activities are essential to serve our customers, especially in a growing African market. This operation will bring them a dynamic of expansion and innovation while retaining the strategic support of Axa Assurances Maroc”.

The finalization of this transaction should take place in 2022, after obtaining the Moroccan regulatory authorizations.

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