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International

Moroccan insurer Saham purchases 40% stake in Nigeria's Unitrust Insurance

November 20, 2014 Reprints

Morocco-based insurer Saham Finances S.A. said it has purchased a 40% stake in Nigeria's Unitrust Insurance Co. Ltd., reported Reuters.

Saham Finances has not revealed the financial terms of the deal. The insurer said Unitrust's written premiums totaled 3.3 billion Nigerian nairas ($19.5 billion) in 2013. The purchase follows Saham's recent acquisition of Rwanda-based insurer Corar-AG Ltd.

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Moroccan insurer Saham purchases 40% stake in Nigeria's Unitrust Insurance

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