AXA hopes Egypt to seize 20% of its Mideast, Africa businesses by 2020

French insurance group AXA hopes its Egyptian arm would seize 20 percent of the group’s total business in Africa and Mideast region by 2020, an official said Thursday.

AXA Group’s total businesses in Africa and the Middle East region are currently worth around $1.8 billion, said Jad Ariss, chief executive for Middle East, Gulf, and Africa, during a press conference held in Cairo.

AXA has presence in around six countries in the Middle East region and eight in Africa, Ariss added.

Ariss further referred to AXA’s plans to expand into more markets in the Middle East and Africa in the coming period.

AXA, France’s largest insurer, is a multinational, investment banking firm headquartered in the 8th arrondissement of Paris that engages in global investment banking, securities, investment management, insurance, and other financial services.

AXA is one of the world leading insurance and asset management groups, serving 102 million clients, individuals and business, in 56 countries.