Saham Group, new identity, new structure

As part of its overall strategy, the Saham Group adopted a new organizational structure and a visual identity common to all its subsidiaries. It is with a view to better managing the future that Saham has embarked on this move, unifying all of its insurance and assistance brands under the Saham label.

Thanks to its size and to its diversified operations, the group, founded in 1995 by Moulay Hafid Elalamy, became in less than two decades an essential brand in the sectors of insurance, assistance, offshoring and health care in Morocco as well as in Africa and the Middle East.

Structure of Saham Group

The major events

2014MoroccoSaham Insurance is the new name of CNIA Saada,
Colina Group and Mercantile Insurance
MoroccoISAAF Assistance is renamed Saham Assistance
2013NigerCreation of an insurance subsidiary
MauritiusCreation of Saham Re
KenyaAcquisition of Mercantile Insurance
2012LebanonAcquisition of LIA Insurance
AngolaPurchase of Global Alliance Seguros,
the country’s first private company
MoroccoCreation of ISAAF Santé (TPA)
2011MoroccoAcquisition of GlaxoSmithKline unit
2010MoroccoListing of CNIA Saada Assurance on the stock exchange market
AfricaAcquisition of Colina Group, present in 13 countries of the CIMA zone
AfricaCreation de BPO Insurance (Business Process Outsourcing)
2009MoroccoMerger of the companies CNIA and Es Saada
2006MoroccoAcquisition of the company Es Saada
2005MoroccoAcquisition of 67.01% of CNIA Assurance
2004MoroccoAcquisition of a majority stake in ISSAF Assistance
1999MoroccoEstablishment of the first call center in Morocco: Phone Assistance
1998MoroccoCession by stock exchange listing of Agma Lahlou-Tazi
1997MoroccoAcquisition of the brokerage firm: Lahlou-Tazi
Purchase of a minority stake in ISAAF Assistance
1995MoroccoCreation of Saham Group
Acquisition of the brokerage company Agma

Saham Group in 2013

It’s via a series of acquisitions and mergers that Saham managed to reach its current size. By the end of 2013, the holding company had 58 subsidiaries established in 22 countries and employing more than 6 421 staff members.

The total turnover amounted to 1.14 billion USD, 87% of which was generated in four countries: Morocco (574 million USD), Angola (211 million USD), Côte d’Ivoire (119 million USD) and Lebanon (89 million USD).

Structure of the Insurance Division

Main 2013 highlights of the Insurance Division

The Insurance Division includes the areas of insurance, assistance, TPA (Third Party Administrator) and consumer credit. Operational in 20 countries through 44 subsidiaries, the division reported in 2013 a turnover of 1.01 billion USD, that is 88.5% of the holding company’s overall business volume. The Insurance Division employs 2 051 staff members, that is 32% of the group’s workforce.
 in millions USD
8821 010
Number of staff
1 9012 051
Number of countries
Number of subsidiaries

Breakdown of 2013 turnover per category

With nearly 858.5 million USD in premiums, non life insurance accounts for 85% of the Insurance Division revenues. Life insurance follows with a turnover of 15%.

Breakdown of 2013 turnover per region
Evolution of the 2012-2013 turnover per region
Central Africa
West Africa
Middle East
Indian Ocean
100% 100%
Source: Saham Group
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