Middle East: Chedid Capital acquires remaining 20% stake in Groupe Ascoma
Source: Middle East Insurance Review | Jun 2024
Chedid Capital has announced the acquisition from the Husson family of the remaining 20% stake in Groupe Ascoma, sub-Saharan Africa’s leading independent brokerage network.
With this acquisition, Chedid Capital now holds 100% of Monaco-headquartered Groupe Ascoma.
In 2021, Chedid Capital inked and completed the acquisition of an 80% stake in Groupe Ascoma from the Husson family.
With more than EUR300m ($321m) in managed premiums in 2023, Groupe Ascoma is operating in high-growth markets, driven by considerable growth prospects in the insurance sector – chiefly in health insurance.
Through this acquisition, Chedid Capital also further cements its position as a insurance and reinsurance investment group. Chedid Capital today manages more than EUR1bn in premiums. M