PARIS (dpa-AFX) - French insurer Axa SA (AXAHY.PK) Friday said it has entered into an agreement to acquire 100% of Assur Africa Holdings which holds a 77% stake in Nigeria's composite insurance company Mansard Insurance Plc for total cash consideration of 198 million euros.
AXA would include the acquired operations within its Mediterranean & Latin American region.
Mansard has operations in both Property & Casualty and Life & Savings. This transaction would allow AXA to enter the highly attractive Nigerian market, the firm said.
The closing of the transaction is expected before the end of 2014.
Copyright RTT News/dpa-AFX