Paris, April 11th, 2023 –
The Diot-Siaci Group, European leader in corporate insurance consulting and brokerage, and Amethis have signed an agreement to acquire a stake in 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, announce the signature of the acquisition of a stake in the capital of ASK Gras Savoye Group.
This group is present in twelve countries of the continent with more than 550 experts in corporate risks and personal insurance. 300 million in premiums, with a balanced mix of property and casualty, health and retirement risks.
Naïma Smirès and her family, current shareholders, will remain reference shareholders of ASK Gras Savoye Group. She is delighted: “Our Group is strengthening its shareholder base through this transaction, which will contribute to its development and to our growth ambition in Africa.”
For Cédric Charpentier, Managing Director of the Diot-Siaci Group, “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, said: “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 competent authorities.
Diot-Siaci is a leading multi-specialist insurance and reinsurance brokerage and consulting 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 corporations, small and medium-sized businesses and professionals, in the areas of personal insurance as well as property and liability insurance. Diot-Siaci has a stable, family-owned shareholder base that enables it to support its clients in their transformation by meeting their needs throughout the value chain. Its offer extends from Property & Casualty, Transport, Professional Liability, Social Protection and Consulting to International Mobility as well as Credit Insurance and Reinsurance. With nearly 5,000 employees and a vast international network, the Group operates worldwide and expects to achieve revenues of close to €800 million by 2022.
Founded by Luc Rigouzzo and Laurent Demey and member of the Edmond de Rothschild Private Equity Partnership, Amethis is an investment fund manager focused on the African continent, with assets under management close to USD 1 billion and more than 30 investments completed to date. Amethis provides growth capital to promising mid-market 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 sectoral expertise.
About Edmond de Rothschild Private Equity
Edmond de Rothschild Private Equity is an independent player within the Edmond de Rothschild Group and manages over 3 billion euros in assets under management. With an entrepreneurial approach to finance and supported by strong convictions, Edmond de Rothschild Private Equity builds and develops differentiating investment strategies that provide a sustainable response to environmental and social issues.
Founded in 1953, Edmond de Rothschild currently has CHF 158 billion in assets under management, 2,500 employees and 29 offices worldwide.
About ASK Gras Savoye
ASK Gras Savoye is the first Moroccan insurance brokerage group and the African leader. It represents its clients to insurance and reinsurance companies in matters of risk placement. The Group also provides consulting and management services for insurance contracts, third-party health insurance and offers its clients its expertise and its increased knowledge of the specificities of each insurance segment (automobile, transport, damage, civil liability, credit insurance, political risks, health, work accident, savings, etc.). 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 achieves a premium volume of nearly 300 million euros and has 550 employees.