Abraaj Capital is investing about $125 million in a Moroccan insurance holding firm as it bids to tap growth prospects in Africa's nascent insurance sector.
Privately-owned Saham Finances has majority stakes in three subsidiaries: Casablanca-listed CNIA Saada, sub-Saharan insurance firm Colina and Isaaf, a firm which focuses on assistance services market in Morocco, Abraaj said in a statement.
Abraaj, the Middle East's largest private equity firm and which recently bought private equity firm Aureos, said its investments will help Saham's expansion and acquisition plans in Africa and the Middle East.
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