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

Date	Country	Event
2014	Morocco	Saham Insurance is the new name of CNIA Saada, Colina Group and Mercantile Insurance
2014	Morocco	ISAAF Assistance is renamed Saham Assistance
2013	Niger	Creation of an insurance subsidiary
	Mauritius	Creation of Saham Re
	Kenya	Acquisition of Mercantile Insurance
2012	Lebanon	Acquisition of LIA Insurance
	Angola	Purchase of Global Alliance Seguros, the country’s first private company
	Morocco	Creation of ISAAF Santé (TPA)
2011	Morocco	Acquisition of GlaxoSmithKline unit
2010	Morocco	Listing of CNIA Saada Assurance on the stock exchange market
	Africa	Acquisition of Colina Group, present in 13 countries of the CIMA zone
	Africa	Creation de BPO Insurance (Business Process Outsourcing)
2009	Morocco	Merger of the companies CNIA and Es Saada
2006	Morocco	Acquisition of the company Es Saada
2005	Morocco	Acquisition of 67.01% of CNIA Assurance
2004	Morocco	Acquisition of a majority stake in ISSAF Assistance
1999	Morocco	Establishment of the first call center in Morocco: Phone Assistance
1998	Morocco	Cession by stock exchange listing of Agma Lahlou-Tazi
1997	Morocco	Acquisition of the brokerage firm: Lahlou-Tazi Purchase of a minority stake in ISAAF Assistance
1995	Morocco	Creation 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

	2012	2013
Turnover	882	1 010
Number of staff	1 901	2 051
Number of countries	20	20
Number of subsidiaries	37	44

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

	2012	2013
Maghreb	51%	45%
Central Africa	25%	27%
West Africa	17%	17%
Middle East	6%	9%
Indian Ocean	1%	2%
Total	100%	100%

Source: Saham Group

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Wed, 14/05/2014 - 14:25