AXA and STELLANTIS Finalize AXA Credit Transaction

The acquisition was carried out by Fidis S.p.A., a company wholly owned by the Stellantis group. As part of this operation, AXA Assurance Maroc and Fidis S.p.A. have established a privileged partnership for insurance distribution. Under this agreement, AXA Credit will distribute AXA products to its existing and future clients. Andrea Faina, Director of Stellantis FSOA Financial Services and CEO of Fidis S.p.A., stated, "By acquiring the majority of AXA Credit, Stellantis is establishing its own financing entity in Morocco, a rapidly growing market. This partnership with AXA Assurance Maroc will provide a comprehensive integrated solution combining vehicle supply, financial services, and insurance, enhancing customer loyalty and supporting our business ambitions in the country." Gilles Fromageot, General Manager of AXA Assurance Maroc & Francophone Africa, remarked, "Today, a new chapter opens for AXA Credit, made possible by the efforts of its teams who have built a unique position in the consumer credit market. Through this operation, we are honored to partner with Stellantis, a major industrial player and key investor in the Moroccan economy. For AXA Assurance Maroc, which will retain a 20% stake in AXA Credit, this partnership also opens new opportunities for collaboration with Stellantis in the African market." The decision to transfer control of its credit subsidiary aligns with the strategy of AXA Assurance Maroc and the AXA Group to focus on insurance activities while collaborating with experts for non-insurance operations.