Diot-siaci strengthens its international presence by joining forces with Amethis to acquire a stake in the ASK Gras Savoye Group
Paris, April 11, 2023 – The Diot-Siaci Group, European leader in corporate insurance consulting and brokerage, and Amethis sign an agreement to acquire a stake in the ASK Gras Savoye Group.
Amethis, one of the leading investment funds dedicated to the African continent, founded in partnership with the Edmond de Rothschild Group, and the Diot-Siaci Group, already present in the region, have announced the signing of the acquisition agreement for a stake in the capital of the ASK Gras Savoye Group.
This group is present in twelve countries across the continent with more than 550 specialists in corporate risks and personal insurance and almost 300 million euros in premiums, with a balanced mix of property and casualty, health/life & disability, and retirement risks.
Naïma Smirès and her family, current shareholders, will remain core shareholders of the ASK Gras Savoye Group.
Ms. Smirès welcomes this collaboration: “Our Group is strengthening its shareholder base through this transaction, which will contribute to its development and our growth ambition in Africa”.
For Cédric Charpentier, Global CEO of the Diot-Siaci Group, “Thanks to this joint investment with Amethis, we are pursuing our international strategy on a key continent for our clients.”
Wilfried Poyet, Partner at Amethis in charge of investment, confirms: “We were attracted by ASK Gras Savoye’s positioning in Africa and its economic dynamism, which is a major focus of Amethis’ investment strategy and which we wish to pursue alongside Diot-Siaci.”
The transaction has been approved by the relevant authorities.
About Diot-Siaci
Diot-Siaci is a leading multi-specialist consulting, insurance and reinsurance brokerage group in France and Europe, with a presence in Asia, the Middle East and Africa. Diot-Siaci designs and develops innovative solutions tailored to the needs of its clients, including large and mid-cap companies, SMEs/SMIs, and professionals, in both personal insurance and property and liability insurance. Diot-Siaci has a stable, family-owned shareholding base which means it can support its clients in their transformation by meeting their needs across the entire value chain. Its offering covers Property & Casualty, Marine and Cargo, Professional Third-Party Liability, Employee Benefits and Consulting, and International Mobility risks as well as credit insurance and reinsurance. With almost 5,000 employees and an extensive international network, the Group operates worldwide and generated revenue of almost €800 million in 2022.
About AMETHIS and the Edmond de Rothschild Group
Founded by Luc Rigouzzo and Laurent Demey, Amethis, a partner member of Edmond de Rothschild Private Equity, is an investment fund manager focused on the African continent, with assets under management close to 1 billion US dollars and more than 30 investments made to date. Amethis provides growth capital to emerging mid-cap champions in a variety of sectors, offering growth support through its international network covering Europe and Africa. With six offices in Paris, Abidjan, Casablanca, Nairobi, Cairo, and Luxembourg, the Amethis team comprises over 45 experienced professionals with strong regional and sector expertise. www.amethis.com
A firm offering conviction-based investments founded on the idea that wealth should be used to build tomorrow, Edmond de Rothschild specializes in Private Banking and Asset Management. Serving an international clientele of families, entrepreneurs and institutional investors, the Group is also present in Corporate Finance, Private Equity, Real Estate and Fund Services. The resolutely family-owned nature of the business gives Edmond de Rothschild the independence it needs to offer bold strategies and long-term investments rooted in the real economy. Founded in 1953, the Group now has 173 billion Swiss francs in assets under management (160 billion euros), 2,600 employees, and 32 offices worldwide.
About ASK GRAS SAVOYE
ASK GRAS SAVOYE is the premier Moroccan insurance brokerage group and the African leader, representing its clients to insurance and reinsurance companies in the placement of their risks. The Group also provides consulting and insurance policy administration services and health insurance third-party administration and offers its clients its expertise and wealth of insight into the specificities of each insurance segment (automobile, marine and cargo, damage, third-party liability, credit insurance, political risks, health, occupational accidents, savings, and more). The Group also operates in the affinity segment.
With a presence in Morocco for more than 70 years, the Group has also consolidated its market share in Africa with a direct presence in 11 countries in West and Central Africa. It has a premium volume of almost 300 million euros and 550 employees.
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