AXA Assurance Maroc is taking a decisive step in refocusing on its core business by entering exclusive negotiations with Fidis S.p.A., a subsidiary of Stellantis, for the sale of 80% of its stake in AXA Crédit. Alongside this transaction, the two entities are forging a strategic partnership aimed at developing integrated insurance solutions.
Through this move, AXA Assurance Maroc reaffirms its commitment to concentrating on insurance activities while partnering with industry specialists for related sectors. Meryem Chami, CEO of AXA Assurance Maroc, highlighted the significance of this shift, stating that the sale reflects AXA Crédit’s strong positioning in civil servant credit markets and marks an opportunity to collaborate with Stellantis, a key industrial player and investor in Morocco’s economy.
For Stellantis, this acquisition is a strategic foothold in Morocco’s rapidly expanding financial services market. Andrea Faina, CEO of Fidis S.p.A. and Director of Stellantis FSOA Financial Services, emphasized that owning a majority stake in AXA Crédit will allow Stellantis to establish its own captive financial services entity in Morocco. By integrating vehicle sales, financing, and insurance into a seamless offering, the group aims to strengthen customer loyalty and drive commercial growth in the country.
Beyond the financial transaction, this partnership opens the door to broader collaboration between AXA Assurance Maroc and Stellantis. AXA will retain a 20% minority stake in AXA Crédit, ensuring continued involvement in the business’s evolution. Additionally, a new insurance distribution agreement will complement Stellantis’ automotive financing services in Morocco, addressing the rising demand for comprehensive vehicle financing solutions.
The deal is still pending regulatory approval from Bank Al Maghrib and the Competition Council. These authorizations are in progress and are expected to be finalized in the coming months.
With this strategic move, AXA Assurance Maroc and Fidis are redefining their market positions, merging financial expertise and industrial ambition to meet the evolving needs of Moroccan consumers.
