French insurer completes Mansard acquisition
from OKORO CHINEDU in Lagos, Nigeria
LAGOS – AXA, the French insurance firm, announced it had completed the acquisition of a majority stake in Mansard Insurance plc in Nigeria.
“AXA announced that it has completed the acquisition of 100 percent of Assur Africa Holdings, which holds a 77 percent stake in the composite insurance company Mansard Insurance plc, for a total consideration of Euro 198 million,” the company announced in a statement from its France Headquarters.
The firm said going forward, the acquired operations will be included
within the Mediterranean & Latin American Region.
AXA would become the fourth biggest insurance player in Nigeria.
“AXA would have the opportunity to further strengthen its presence in
Africa and enter the fast-growing Nigerian insurance market, in line with
its Ambition AXA strategy,” the company said in a statement released
– CAJ News
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