Morocco’s Saham Buys 40% Stake in Nigerian Insurer

 In news

Casablanca-based Saham Finances, which controls Morocco’s fourth biggest insurer by premiums, bought 40% percent in Unitrust Insurance Co., Moroccan co. says in emailed statement, without giving price.

* Unitrust is “one of the major” insurance cos in Nigeria with 3.3b nairas in written premiums, Saham says;
* Acquisition will “consolidate” Saham’s West African business;
* NOTE: Moroccan insurance firms have followed banks in expanding presence in West Africa;
* NOTE: Saham Finances is indirectly controlled by Industry and Trade Minister Hafid Elalamy, has 58% in listed Saham Assurance. Source: Bloomberg

Recent Posts
Contact Us

We're not around right now. But you can send us an email and we'll get back to you, asap.

Not readable? Change text.

Start typing and press Enter to search