Resizing the shareholder’s equity of AXA Assurances Morocco

Axa Assurance Maroc is proceeding to the resizing of its assets through ONA, BCM, and Centrale Laitière share buyouts for an estimated total of 181 million USD. According to CEO Daniel Antunès, interviewed by the daily “l'Economiste”, the decided measure, after reconciliation between BCM and Wafa Group” (Wafa Bank, Wafa Insurance) aims at reducing the “significant asset excess” of the company which was overcapitalised since its merger with El Amane and Compagnie Africaine d'Assurances (African Insurance Company).