Funds managed by pan-African private equity firms Development Partners International (DPI) and AfricInvest Group, as well as European development finance institutions DEG, FMO and Proparco, have agreed to sell 100 percent of Assur Africa Holding (AAH) to global financial services company AXA Group for EUR198 million (approximately US$247 million). AAH holds a 77 percent interest in Mansard Insurance, a Nigeria-based provider of life and non-life insurance products to both institutional and retail clients. The transaction is expected to close before the end of 2014.