Moroccan and multinational insurance groups fuse

The Moroccan group "ONA" and multinational group "AXA" announced a fusion of their insurance branches.

The two groups' insurance branches "Axa-Al Amame" and ONA's "Compagnie Africaine d'Assurance" will fuse in the short term and form a new holding called "AXA-ONA."

ONA stated that the goals of this move are to form a leading insurance firm in Morocco, accompany the growth of economic activity in Morocco and benefit from the know-how and expertise of AXA.

The holding might purchase other insurance companies both inside and outside Morocco.