AXA Partners sells its 80% stake in AXA Assistance Maroc to Expanso, Mehdi Tazi’s holding company. Under the agreement, 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 of 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”. Mehdi Tazi will thus become a co-shareholder of AXA Assistance Maroc, with AXA Assurance Maroc.
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The top management points out that by retaining 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, deploy its services and further develop its hub. Francophone Africa from Morocco.
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“In pursuit of refocusing its geographical footprint, AXA Partners is selling its shares in AXA Assistance in Morocco to a strategic partner for AXA in Africa. A recognized player on the African market, I am convinced that Mehdi Tazi will provide AXA Assistance Maroc and its employees with new impetus and an environment offering real growth opportunities for the future,” said Adelane Mecellem, Managing Director of the Southern Europe, Latin America, Asia and META (Middle East, Turkey and Africa) region of AXA Partners. Note that the finalization of this transaction is subject to obtaining Moroccan regulatory authorizations and should take place in 2022.
