VOL. XLIII

No. 23

5-June-2000

MOROCCO

Moroccos CAA Insurance Firm Merges With French AXA Arm

Moroccos Compagnie Africain dAssurance (CAA), an insurance arm of the conglomerate ONA Group, merged on 25 May with AXA Al-Amane to form AXA Assurance Maroc. According to the Moroccan news agency MAP, ONA and AXA hold 49% and 51% respectively of the DH4.7bn ($436.1mn) new venture, which has a 21% market share in the countrys $1bn insurance sector.

There are 12 companies in the insurance sector, but...