Stake Purchase • Insurance

Saham Finances S.A. Invests In Continental Reinsurance

On September 17, 2015, Saham Finances S.A. invested in insurance company Continental Reinsurance from Emerging Capital Partners

Investment Context
  • This is Saham Finances S.A.’s 5th transaction in the Insurance sector.
  • This is Saham Finances S.A.’s 2nd transaction in Nigeria.
Investment Fate
  • Continental Reinsurance was sold to a strategic buyer in 2016.

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Investment Summary

Date September 17, 2015
Target Continental Reinsurance
Sector Insurance
Investor(s) Saham Finances S.A.
Sellers(s) Emerging Capital Partners
Deal Type Stake Purchase

Target Company

Continental Reinsurance

Lagos, Nigeria
Continental Reinsurance is a reinsurance company offering both treaty and facultative Life and Non-Life reinsurance, with a well-diversified business mix and customer base. From its Nigerian base, the company has grown a diversified Pan-African portfolio, adding value wherever it goes, and developing enduring partnerships premised on ‘Pan-African Commitment made local’. Continental Reinsurance was formed in 1985 and is based in Lagos, Nigeria.
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Investor Overview 1

Investor

Saham Finances S.A.

Casablanca, Morocco

Category Company
Sector Insurance
Employees3,000
DESCRIPTION

SAHAM Finances is an insurance group with operations in 26 countries across North, West and East Africa, and the Middle East. It predominantly writes personal lines general insurance business (exceeding 80% of its portfolio), but is in the process of diversifying this. SAHAM Finances has approximately 61 subsidiaries, a network of 700 branches and a staff complement of more than 3,000 people. SAHAM Finances has a leading market share in many of the markets in which it operates.


Deal Context for Investor #
Overall 5 of 6
Sector: Insurance 5 of 6
Type: Stake Purchase 2 of 2
Country: Nigeria 2 of 2
Year: 2015 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-04 Unitrust Insurance Co.

Lagos, Nigeria

Unitrust Insurance Co. Ltd. is an insurance company. UNITRUST provides a range of products over in all areas of Non-life Insurance. Unitrust Insurance Co. Ltd. was established in 1981 and is headquartered in Lagos, Nigeria.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-18 Continental Reinsurance

Lagos, Nigeria

Continental Reinsurance is a reinsurance company offering both treaty and facultative Life and Non-Life reinsurance, with a well-diversified business mix and customer base. From its Nigerian base, the company has grown a diversified Pan-African portfolio, adding value wherever it goes, and developing enduring partnerships premised on ‘Pan-African Commitment made local’. Continental Reinsurance was formed in 1985 and is based in Lagos, Nigeria.

Sell -

Seller Profile 1

SELLER

Emerging Capital Partners

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2000
PE ASSETS 3.3B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Emerging Capital Partners LLC (ECP) is a private equity firm that invests in diversified businesses across the Africa. ECP targets companies with proven operating models and strong market positions. Broad areas of interest include financial services, telecommunications, transport logistics, petrochemicals, natural resources, agribusiness, and utilities. Emerging Capital Partners was formed in 2000 and is based in Washington, DC. The Firm has additional offices in Paris, Abidjan, Casablanca, Douala, Johannesburg, Lagos, and Tunis.


Deal Context for Seller #
Overall 9 of 17
Sector: Insurance 2 of 2
Type: Stake Purchase 1 of 1
Country: Nigeria 2 of 2
Year: 2015 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-07-15 Groupe NSIA

Ivory Coast

Groupe NSIA is a provider of banking and insurance products and services to individual and business clients. Groupe NSIA was founded in 1995 and is based in Ivory Coast.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-01 Cellcom Telecommunications

Monrovia, Liberia

Cellcom is a provider of high quality service in all major urban areas in the respective countries and offers voice and data service, wide geographic coverage, attractive prices and a track record for innovation. Cellcom is a mobile telephone operator in Liberia and Guinea. Since its commercial launch in 2001, Cellcom has become a market leader with over 700,000 subscribers.

Sell -

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