Insurance broker and risk advisor, Marsh, has announced that it intends to exercise its option to acquire the majority of shares in Beassur Marsh, following its acquisition of a stake in the Moroccan insurance broker in June 2019.
The Beassur Marsh team is headquartered in Casablanca and will become part of Marsh’s expanding network of dedicated regional expertise across the Africa region.
Upon completion of the acquisition, Beassur Marsh will operate as Marsh Morocco and Mehdi Tazi, currently CEO of Beassur Marsh, will become CEO of Marsh Morocco.
Further, Tazi will be supported by Anis Safraoui, Head of North & Western Africa – Marsh, and other members of the combined leadership team across the region.
Tazi said, “Through Marsh’s network, leading Moroccan businesses will, for the first time, have local access to unrivalled risk and insurance services and solutions than can support them in realising their growth ambitions and enhance their contribution to the region’s wider economic success.
“I look forward to working with our clients and colleagues, as we bring our organizations together and realise the tremendous combined opportunities we face.”
Christos Adamantiadis, CEO, Middle East and Africa, Marsh, also commented, stating, “Following our successful investment three years ago, we’re excited to acquire a majority stake in Beassur Marsh as we continue to develop our expertise and support our clients in the Moroccan insurance market.
“The combined business will enable us to invest further in the business and set a new standard for insurance and risk advisory services in North and West Africa.”