The sale by Axa Partners of 80% of Axa Assistance Maroc to Expanso should be finalized within the next 3 to 4 months. This is what the president of Expanso, Mehdi Tazi, who is also vice-president of the CGEM, told the newspaper “Le Matin”. This is the time needed to obtain the approval of the Insurance and Social Welfare Supervisory Authority (ACAPS).
What will this takeover cost? The future co-shareholder of Axa Assistance Maroc wishes to remain discreet. With this participation prize, the ambition is to make the assistance specialist an insurtech, the African leader in health and automobile assistance, by relying on the possibilities offered by technology. “By maintaining its 20% stake in Axa Assistance Maroc, Axa Assurance Maroc will benefit from the renewed potential of the activity under the leadership of Mehdi Tazi to rethink its customer journey, qualify its services and further develop its French-speaking Africa hub from Morocco. “, specifies the Axa group in a press release.
The transfer agreement concluded on Tuesday, January 26, also provides that Axa Assistance Morocco will take over, from Axa Partners, all local assistance activities in African countries, excluding Algeria. For the CEO of Axa Assurance Maroc and CIMA (Senegal, Côte d’Ivoire, Cameroon and Gabon), Meryem Chami, this transaction should bring a dynamic of expansion and innovation while maintaining the strategic support of Axa Assurance Maroc. . It should be noted that Axa Assistance Maroc has admitted to operating under the name of Axa, during a transitional period that Mehdi Tazi did not communicate to us.
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