Press release from the Competition Council regarding the economic concentration project concerning the exclusive takeover by the company ‘AFMA SA’ of the company ‘SAFE ASSUR SARL’ through the acquisition of the remaining 49% of its capital and related voting rights

In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 adopted for its implementation, as amended and supplemented, the Competition Council makes available to the public the ‘operation summary’ below, containing the information provided by the parties.

This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.

The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 adopted for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.

Names of the companies and groups concerned:

• The acquirer: ‘AFMA SA’;
• The target: ‘SAFE ASSUR SARL’.

Nature of the operation

• Exclusive takeover.

Economic sectors concerned

• Insurance and reinsurance brokerage market.

Deadline for interested third parties to submit their observations

• 10 days from the date of publication of this press release, i.e. July 21, 2025.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council received notification of an economic concentration project operation concerning the exclusive takeover by the company ‘AFMA SA’ of the company ‘SAFE ASSUR SARL’ through the acquisition of the remaining 49% of its capital and related voting rights.

‘AFMA SA’ is a Moroccan joint stock company, with its registered office at 22, Boulevard Moulay Youssef, 20070 Casablanca, registered with the Casablanca Trade Register under number 22463. It has 16 subsidiaries operating in insurance and reinsurance brokerage activities in various cities in Morocco and in Côte d’Ivoire. Its services cover all insurance branches for businesses and individuals.

‘SAFE ASSUR SARL’ is a Moroccan limited liability company, with its registered office at 1st floor, 22, Boulevard Moulay Youssef, 20070 Casablanca, registered with the Casablanca Trade Register under number 450777. It operates in the insurance brokerage sector in Morocco. Its services cover all insurance branches for businesses and individuals.

 

Done in Rabat on July 10, 2025