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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Posted by on Dec 8 2014. Filed under Finance & Banking, Insurance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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