Establishment of a new company

Mauritania counts a new non-life insurance company. Baptized DAMANE Assurance, the company is dotted with a capital of 3 000 000 000 MRO (10.3 million USD), held at 70% by the Société Nationale Industrielle et Minière (SNIM). Banks, import-export companies as well as two insurers: AGM (Assurance Générale de Mauritanie) and MAR (Mauritanienne d’Assurances et de Réassurances) control the remaining 30%. DAMANE Assurance chairmanship has been entrusted to Mohamed Abdellali Oudaa, SNIM’s general manager, while the position of general manager went to Mohamed Ahmadou Jeireb, a man with a banking educational background.