Ask Capital has become the sole owner of AXA Assistance Maroc after purchasing the remaining 20% of shares the latter has held in the operation; several media sources have reported.
In 2022, Ask Capital, a holding company 100% owned by Mr Mehdi Tazi, acquired 80% of the assistance provider. Following to the takeover, AXA Assistance Maroc has been rebranded to become Cover Edge.
Cover Edge looks to strengthening its activity in the fields of assistance, travel insurance, affinity insurance and microinsurance with a vision to become the leader in travel assistance and insurance in Africa within two years, reported Agence Ecofin.
Already present in Central and West Africa, the company also operates in reinsurance in Mauritius where it targets the English-speaking markets of East Africa. "Our ambition is to offer more accessible, innovative and personalized support services, by integrating cutting-edge technologies,” said Cover Edge president Mehdi Tazi.