“The insurance market in Africa is one of the most dynamic in the world and the private sector, in particular car insurance represents one of the main avenues for growth.
Saham insurance, in partnership with Saham Assistance, has already made the most of the opportunity the market offers and provides clients with an assistance service, a first for sub-Saharan Africa,” says Nadia Fettah Alaoui, Deputy CEO for Finance and Operations.
At the heart of the Group’s work, the insurance arm represents a historic pillar of its development in Morocco, as well as West and Central Africa.
The insurance business in Africa has seen steady growth thanks to the success of an ambitious and deliberate acquisition strategy.
This includes the Colina Group (1st insurer of the Inter-African Conference on Insurance Markets (CIMA) zone, with a presence in 13 countries in 2010), and of GAAS, the leading, private insurer in Angola and also present in Kenya, Rwanda and Nigeria.
The momentum of this expansion was made possible by setting up subsidiaries in high growth potential countries such as Niger and Congo in 2014.
In the Middle East, Saham Finances established a presence through LIA insurance, a major player in Lebanon.
To optimise the reinsurance needs of its subsidiaries, Saham finances created in 2013 Saham reassurance, a reinsurance company which aims to share the best underwriting practises.
Today as a truly pan African leader, Saham Assurance relies on a network of over 650 agencies and distinguishes itself through it’s primarily client based strategy.
According to the distribution of written premiums, Morocco is the first contributor to the insurance arm of Saham Finances with 48 per cent, followed by Angola 17 per cent, the Ivory Coast 11 per cent and Lebanon at 10 per cent.
“Saham Assistance has the job of helping private individuals, professionals and companies by providing a range of services which focus on proximity. When disaster strikes, we are the first link in an emergency chain and our customers can count on the experience and professionalism of our teams and service providers to support them through those difficult moments,” says Moulay M’Hamed Elalamy, the General Manager of Saham Assistance.
Pan African leader in assistance, Saham Assistance provides for its 6 million clients through a worldwide network of 400,000 service providers and 240 correspondents thanks to the Mondial Assistance Group.
Boasting a 30 per cent market share and over 1,000 centers, Saham Assistance for sub-Saharan countries, with a presence in 12 countries; Angola, Benin, Burkina Faso, Cameroon, Congo Brazaville, Ivory Coast, Gabon, Madagascar, Mali, Niger, Senegal and Togo.
To provide its individual and business customers with efficient and responsive assistance services, Saham Assistance offers a wide range of customized services in health, car, travel and death insurance.