Founded in January 1995 by current Chairman and Group CEO Jean-Kacou Diagou, NSIA is the leading insurance group in French-speaking Africa. It also owns and operates the third largest banking institution in Côte d’Ivoire, BIAO which it acquired in 2006 and recently renamed NSIA Bank Côte d’Ivoire. In 2010, it created NSIA Bank Guinée and has started gearing the group as an undisputable leader in the West African Bancassurance landscape. It has more than 1,500 employees, and also 1,500 insurance agents and approximately 500 insurance brokers.
Today, the Group develops a wide spectrum of financial services products and enjoys a unique network composed of 25 life and non-life insurance companies, 2 banks, 58 banking retail offices and 42 insurance offices spread across 12 Central and Western African countries.
Historically, the group has achieved a swift and efficient regional expansion centered on its insurance core business and now aims at developing its banking activities in order to foster further growth through opportunities and synergies arising from the bancassurance distribution model.
Role and added value of Amethis
With this transaction, Amethis has gathered two leading institutions in their respective geographies with the objective of building a long-term mutually beneficial partnership. This willingness to assemble international institutions such as National Bank of Canada with African entrepreneurs is at the heart of Amethis’ strategy.
By harvesting the fruits of the partnership with Amethis and National Bank of Canada, the Group will dispose of significant financial resources and the necessary expertise to achieve this strategic goal.
The presence of Amethis and the National Bank of Canada as active shareholders and partners will open new opportunities for this financial services Group and accelerate its deployment in Sub-Saharan Africa. The Amethis team will put its large network of banks and financial institutions across Africa and Europe to the benefit of the NSIA Group in order to create partnerships and high value-added synergies.