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Hassanein Hiridjee, the chief executive of Axian Group, is widening the company’s financial services footprint with the launch of a new insurance subsidiary in Madagascar, a move aimed at a market where coverage remains limited for many households and small businesses.
Axian said VIA Assurance began operations in Madagascar on Wednesday, Jan. 28, after receiving regulatory approval to sell both life and non life products. The insurer sits inside Axian Financial Services, the group’s finance arm, as the conglomerate looks for growth beyond its core telecommunications business.
Hiridjee has positioned Axian as a pan African operator spanning telecom, energy, real estate and finance, with thousands of employees across multiple countries. The insurance push fits a broader strategy of building everyday consumer services that can scale, especially in markets where formal financial protection is still seen as complicated or expensive.
VIA Assurance is pitching what it calls a simpler customer experience, with clearer coverage terms and an emphasis on speed, according to company statements and product descriptions. The company says it wants to make insurance feel practical, built around common risks faced by individuals, professionals and institutions.
The early product range is designed to cover both personal and business needs, including protection tied to property, liabilities and professional activity, along with travel related coverage. VIA also promotes support during major life moments and faster response when policyholders need help, themes that have become common selling points across Africa’s growing insurance sector.
Pascal Plaziat, VIA’s general manager, said the goal is to build trust by showing customers the day to day value of insurance. Deputy general manager Christelle Andriantavy said the offerings were designed from local realities, with an emphasis on usability and transparency rather than dense fine print.
Industry watchers in Madagascar say the challenge is not only product design but perception. Insurance penetration is widely viewed as low, and many consumers prefer informal coping mechanisms when crisis hits. Axian’s bet is that better service, modern distribution and recognizable branding can help turn curiosity into recurring premiums.
The timing also matters. Across the continent, large telecom groups have been leaning into finance, using their customer reach to expand mobile money, credit and now insurance. Axian has been part of that shift, and Hiridjee has argued publicly that inclusive financial tools can unlock growth when they match how people actually live and earn.
Axian has described the Madagascar launch as a starting point for a wider insurance buildout, signaling ambitions beyond its home market. Hiridjee now faces the practical test: proving that a new insurer can pay claims quickly, price risk responsibly, and still grow in a country where many people have never held a policy at all.
