AXA Partners, the subsidiary of the AXA Group specializing in assistance services, travel insurance and borrower & provident insurance, and Mehdi Tazi announce today that they have entered into an agreement whereby AXA Partners sells to Mr. Tazi via the entity Expanso his stake in AXA Assistance Morocco. The agreement also provides that AXA Assistance Morocco will take over from AXA Partners all local assistance activities in African countries, excluding Algeria, said a press release published by the group on Tuesday 26 April.
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, deploy its services and further develop its French-speaking Africa hub from Morocco.
For Mehdi Tazi, president of Expanso (shareholder of Marsh in Morocco) and also General Vice-President of CGEM, recalls the same source, this acquisition of a stake in AXA Assistance Maroc in partnership with AXA Assurance Maroc confirms his ambition to rethink the practice of the assistance profession with regard to technological developments and thus “to make AXA Assistance Morocco an insurtech, the African leader in assistance to people in emergency situations”.
In this regard, Adelane Mecellem, Managing Director of the Southern Europe, Latin America, Asia and META (Middle East, Turkey and Africa) region of AXA Partners declares: “In pursuit of the refocusing of 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. »
According to Meryem Chami, Managing Director of AXA Assurance Maroc and CIMA (Senegal, Côte d’Ivoire, Cameroon and Gabon): “Assistance activities are essential to serve our customers, particularly in a rapidly developing African market. This operation will provide them with a dynamic of expansion and innovation while retaining the strategic support of AXA Assurance Maroc. »
The finalization of this transaction, specifies the press release, is subject to obtaining Moroccan regulatory authorizations and should take place during the year 2022.