French Insurer AXA to own Mansard Insurance Plc

AXA is coming into the Nigeria market by buying Assur Africa, the holding company of Mansard Insurance for $246 million in cash. They will be buying 100 percent of Assur Africa holdings, which holds a 77 percent stakes in Mansard Insurance.


 “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.