Mehdi Tazi, vice-president of CGEM and CEO of Beassur Marsh. Editing: Mohamed Mhannaoui/Le Desk
While leading the acquisition of 80% of Axa Assistance Maroc via his holding company Expanso, the vice-president of CGEM was discreetly negotiating in parallel the sale of an additional 35% of his brokerage firm Beassur to his partner Marsh McLennan who at the end of the operation will hold 70%
In 2019, the entry of the American Marsh, a leader in risk management and insurance brokerage, into the capital of Beassur propelled Mehdi Tazi among the national market leaders. “As our customers’ needs continue to evolve, we have given a lot of thought to how best to meet their growing expectations. Marsh’s strength as a leading provider of risk and insurance solutions, combined with Beassur’s innovative approach and dynamic, young team will enable us to deliver unparalleled value and service to our clients.”rejoiced the vice-president of the General Confederation of Moroccan Enterprises (CGEM), which had bought Beassur two years earlier after his departure from Saham.
Since then, the businessman seems to have pushed his logic to its climax: According to our information, the former CEO of Saham Assurances has started the procedure to sell an additional 35% of Beassur Marsh to Marsh International Holdings (Marsh McLennan Group) which will now hold 70% via a subsidiary in the process of being set up. This concentration operation, carried out very discreetly by the two partners, was notified on July 14 to the Competition Council.
After twelve years at Saham where he held various positions, the engineer followed in the footsteps of his mentor Moulay Hafid Elalamy by multiplying the takeovers of brokerage firms before setting his sights on the assistance sector: last April he acquired, via its Expanso holding company, 80% of Axa Assistance Maroc, thus acquiring all the African activities of the French subsidiary Axa Partners with the exception of its activities in Algeria. A takeover, carried out in parallel with its outvoting in Beassur.