AXA Assurance Maroc to sell AXA Crédit to Fidis

AXA Assurance Maroc has entered into exclusive negotiations with Fidis, an entity wholly owned by the multinational automotive group Stellantis, for the sale of 80% of AXA Crédit, its consumer credit subsidiary.

Upon completion of the transaction, which is subject to the approval of the relevant authorities, the Moroccan insurer will retain a 20% stake in AXA Crédit.

This move is consistent with AXA Maroc's strategy of refocusing its activities on insurance.

AXA Assurance Maroc and Fidis are also in talks to forge an insurance distribution partnership.