Bank of Kigali sells 30% of its insurance business to Mauritian Swan

Bank of Kigali has sold 30% of its insurance business to the Mauritian group Swan General for nearly 1 million dollars. In 2015, the Rwandan bank created BK General Insurance, a non-life insurance company, which started operating in March 2016.

Through this partnership, Bank of Kigali and its Mauritian partner will henceforth be able to explore investment opportunities in the life class of business in Rwanda.

Said Alj and Christophe Buso in charge of Saham Assurance Maroc

Following the departure of Saham Assurance Maroc Chairwoman Nadia Fettah and General Manager Moulay Mhamed Elalamy, the Board of Directors has announced the appointment of their respective successors, Said Alj and Christophe Buso.

Saïd Alj is the Chairman and Founder of Sanam Holding Group, a Saham shareholder since 2006. The new General Manager Christophe Buso has held senior positions in Groupama group in France and Italy for many years. He is a specialist in life and non-life activities.

Scor rejects Covéa bid

Scor has turned down the unexpected takeover offer made by its largest shareholder Covéa. The leader of the French reinsurance points out that the project is incompatible with the group’s values and strategy.

Scor's chairman and CEO Denis Kessler said that, unlike Covéa which is expert in motor and homeowners’ insurance in France, his company's activities are global and multidisciplinary.

Such a transaction could cast doubt upon the group's strategy and independence which have been the foundation of Scor's success in recent years.