Moroccan Saham dethrones NSIA as Togo’s leading non-life insurer

Finance
Tuesday, 22 May 2018 16:02
Moroccan Saham dethrones NSIA as Togo’s leading non-life insurer

Saham Assurance Togo, subsidiary of Moroccan group Saham, dethroned Ivorian NSIA, as the first non-life insurer operating in Togo, in terms of turnover, Financial Afrik reported.   

Indeed, last year, Saham recorded a turnover of 8.55 billion CFA, a 16% increase compared to 7.37 billion in 2016. For its part, NSIA recorded a turnover of 7.68 billion CFA in 2017 (+3% compared to 2016’s result: 7.45 billion CFA).

With its recent performance, the insurer captured 25% of Togo’s non-life insurance market while the runner-up got 22.5% of this market. They are followed by Sunu Assurance (15%), GTA-C2A (14%) and Ogar Assurance (10%).  

As at December 31, 2017, Togo’s non-life insurance market recorded an overall turnover of 34.05 billion CFA, as against 29.68 billion in 2016, thus an increase by 14.7%.

Fiacre E. Kakpo

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