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Monday, July 15, 2024

Companies: ASK Capital finalizes the acquisition of AXA Assistance Morocco

It is now done, the new holder of AXA Assistance in Morocco is ASK Capital, which finalized on November 8, 2022, the operation to buy back 80% of the shares of the car insurer started at the end of April.

Announced at the end of April 2022, the operation to buy back 80% of the shares of AXA Assistance Maroc by ASK Capital (holding company 100% owned by Mehdi Tazi) from AXA Partners was signed on Tuesday, November 8, 2022. The 20% remaining shares of AXA Assistance Maroc remain in the hands of AXA Assurance Maroc, headed by Meryem Chami.

“These last few months have allowed us to get to know the AXA Assistance Maroc teams better and to confirm the potential we had identified for this company. We look forward to starting our development engagements in Morocco,” said Mehdi Tazi.

To support the development ambitions of the new shareholder, Top Management has been strengthened by the appointment of Tarik Alouajaji, former CEO of Sanlam (formerly Saham Assurance), as Chief Executive Officer. At his side, Loris Nazon, former Associate Partner at the consulting firm McKinsey & Company, has been appointed Deputy Managing Director in charge of development and transformation.

With the AXA Assurance Maroc / ASK Capital joint ownership, AXA Assistance Maroc will continue to operate under the AXA brand and will remain a privileged partner of the AXA Group, with direct access to the group’s global service provider networks, allowing AXA Assistance Maroc to maintain a level of service at the highest standards.

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