Chedid Capital acquires remaining 20% stake in Groupe Ascoma
Groupe Ascoma is an independent insurance brokerage network in sub-Saharan Africa.
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Chedid Capital has acquired the remaining 20% share of Groupe Ascoma from the Husson Family. With this acquisition, Chedid Capital now holds 100% of Groupe Ascoma, an independent insurance brokerage network in sub-Saharan Africa.
In 2021, Chedid Capital inked and completed an 80% stake acquisition in Groupe Ascoma from the Husson family.
Today, Groupe Ascoma’s expert and specialist teams cover all sectors, offering expertise in risk management for both businesses – including SMEs and large international corporations – and individuals across the African continent.
With more than €300 million in managed premiums in 2023, Groupe Ascoma is operating in high-growth markets, driven by favourable demographic dynamics and considerable growth prospects in the insurance sector – chiefly in health insurance. The group’s network counts 850 employees, spanning 23 subsidiaries in 21 African countries – and covering 54 countries in Africa and Mauritius through its own correspondent network.
With a network of 64 subsidiaries and 1,600 employees from across three continents, Chedid Capital today manages more than €1 billion in premiums.
“The acquisition of Groupe Ascoma by Chedid Capital has come to reinforce our leadership position in Africa’s insurance brokerage market. Fuelled 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,” says Farid Chedid, founder, chairman and group CEO of Chedid Capital.
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