Chedid Capital now holds 100% of Groupe Ascoma by acquiring the remaining 20% share from the Husson Family, reinforcing its position in Africa’s insurance brokerage market.
This finalises a process that began in September 2020 when Chedid Capital announced its intention to acquire Ascoma, culminating in an 80% stake acquisition in 2021.
With the solid backing of Chedid Capital, Ascoma has strengthened its governance, expanded its technical capabilities, and enhanced its competitive standing over the past three years. This strategic approach has empowered the company to adapt effectively to the changing needs of its clients.
Today, Ascoma’s teams cover various sectors, offering expertise in risk management to businesses of all sizes, including SMEs and large corporations, as well as individuals across Africa.
Having managed premiums exceeding 300 million Euros in 2023, Ascoma operates in high-growth markets, particularly in health insurance, driven by favourable demographic trends and growth opportunities in the insurance sector.
Now under full ownership of Chedid Capital, Ascoma plans to increase its investments, particularly in anglophone and Lusophone Africa.
This acquisition further strengthens Chedid Capital’s position as a leading investment group in insurance and reinsurance. With 64 subsidiaries and 1,600 employees from over 50 countries across three continents, Chedid Capital manages premiums totaling more than 1 billion Euros.
Additionally, Chedid Re, a subsidiary of Chedid Capital, is among the 20 largest reinsurance brokers in the world.
Farid Chedid, Founder, Chairman and Group CEO of Chedid Capital, comments, “The acquisition of Groupe Ascoma by Chedid Capital has come to reinforce our leadership position in Africa’s insurance brokerage market. Fueled by this momentum, we will continue to ambitiously pursue our expansionary drive, chiefly in anglophone and Lusophone Africa.”
“We would like to thank the Husson family for the trust they have placed in our vision to help Groupe Ascoma’s already remarkable success reach new heights. In an uncertain world where risk is ever-growing, Groupe Ascoma can lean on Chedid Capital’s support and infrastructure to offer clients top-tier insurance, risk management, and financial services,” Chedid concludes.
