Amethis backs insurance company

Diot-Siaci Group, a European corporate insurance consulting and brokerage firm, has partnered with private equity firm Amethis to acquire a stake in Morocco’s ASK Gras Savoye Group.

ASK Gras Savoye Group operates in 12 African countries, employing over 550 experts in corporate risks and personal insurance. The group manages €300 million in premiums across property and casualty, health, and retirement risks.

Current shareholders Naïma Smirès and her family will maintain their positions as reference shareholders of ASK Gras Savoye Group. Smirès said, ”Our Group is strengthening its shareholder base through this transaction, which will contribute to its development and to our growth ambition in Africa.”

Cédric Charpentier, managing director of the Diot-Siaci Group, commented, ”Thanks to this joint investment with Amethis, we are pursuing our international strategy on a key continent for our customers.”

Wilfried Poyet, partner at Amethis and in charge of the investment, remarked, ”We were attracted by the positioning of ASK Gras Savoye in Africa and its economic dynamism which is a major axis of the investment strategy of Amethis and that we want to pursue with Diot-Siaci.”

The transaction has been approved by the relevant authorities.