AXA Assurances Maroc repurchased ONA's shares

Following the agreement signed with the conglomerate Omnium Nord-africain (ONA), AXA Assurance Maroc is going to buy out 49% of the stakes held by ONA in its capital. This move, whose amount is valued around 265 million EUR (350 million USD), is to enable the French insurer to take full control over its Moroccan subsidiary.

Being the second insurer on the Moroccan market with a turnover worth 2.2 billion DH in 2005 (261 million USD), AXA counts 500 people among its staff members, a network of 100 general agents, and deals with an equivalent number of brokers.

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