AXA enters Nigerian market, buying Mansard Insurance for $246M

French insurer AXA said on Friday it was entering the Nigerian market by buying the holding company of Mansard Insurance for 198 million euros ($246 million) in cash.

AXA said it was buying 100 percent of Assur Africa holdings, which holds a 77 percent stakes in Mansard Insurance, the fourth largest insurer in Nigeria with activities in both property and casualty and life and savings.

Read more: AXA buys Assur Africa holdings’ stake in Mansard Insurance | BusinessDay.