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 |
| 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
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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% |
