Marsh buys majority stake in Moroccan broker

Global broker  Marsh has acquired a majority stake in a leading Moroccan insurance broker to expand its expertise across the Africa region.

Marsh has decided to acquire the majority of shares in Beassur Marsh, following its acquisition of a stake in the business in June 2019.

On completion, Beassur Marsh will operate as Marsh Morocco and Mehdi Tazi, currently CEO of Beassur Marsh, will become CEO of Marsh Morocco. He will be supported by Anis Safraoui, head of North & Western Africa - Marsh, and other members of the combined leadership team across the region.

Headquartered in Casablanca, the Beassur Marsh team will become part of Marsh’s network of dedicated regional expertise across the Africa region. As well as benefiting from local knowledge and experience, clients will also have access to Marsh’s global resources and capabilities – including insurance, reinsurance, and benchmarking, data and analytics solutions.

Christos Adamantiadis, CEO of Middle East and Africa, Marsh, said: “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.”

Tazi added: “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.”

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