Moroccan investment in Kenyan insurance

The Moroccan group Saham, which controls insurers CNIA-Saada (Morocco), Colina (Pan African group) and LIA (Lebanon), has acquired a majority participation in Mercantile Insurance. The company sells life and non-life insurance products on the Kenyan market. In 2011, gross written premiums reached 600 million KES (7.176 million USD) and pre-tax profits were estimated at 96 million KES (1.148 million USD). Mercantile insurance was established in 1993.

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