Mehdi Tazi, general vice-president of the CGEM
© Copyright: DR
AXA Partners, the subsidiary of the AXA group, specializing in assistance services, travel insurance and borrower & provident insurance, and Mehdi Tazi, announce that they have reached an agreement under which AXA Partners sells to Tazi, via the entity Expanso, its stake in AXA Assistance Morocco.
AXA Partners sells its 80% stake in AXA Assistance Maroc to Expanso, Mehdi Tazi’s holding company, announces a press release from the insurer AXA.
The agreement also provides that AXA Assistance Morocco will take over from AXA Partners all local assistance activities in African countries, excluding Algeria.
For Mehdi Tazi, president of Expanso (shareholder of Marsh in Morocco) and also General Vice-President of CGEM, this acquisition of a stake in AXA Assistance Maroc in partnership with AXA Assurance Maroc confirms his ambition to “rethink the practice of the profession as an assistance provider with regard to technological developments and thus to make AXA Assistance Morocco an insurtech, the African leader in assistance to people in emergency situations”.
The finalization of this transaction is subject to obtaining Moroccan regulatory authorizations and should take place during the year 2022.
By Ayoub Khattabi