French Insurer AXA buys Mansard Insurance For 44 Billion Naira In Cash

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AXA has bought the holding company of insurance firm, Mansard Insurance on Friday for the sum of $248 million (N43.9 billion).

AXA said it was buying 100 percent of Assur Africa holdings, which holds a 77 percent stakes in Mansard Insurance, the fourth largest insurer in Nigeria with activities in both property and casualty and life and savings.

“This transaction would allow AXA to enter the highly attractive Nigerian market through a very reputable local company, led by a talented management team,” the company said in a statement.



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