Chedid Capital completed the acquisition of a 80% stake in ASCOMA.

Chedid Capital, a financial holding company dedicated to investing in the insurance and reinsurance sectors, completed the acquisition of a 80% stake in ASCOMA, a insurance brokerage player in Africa. Financial terms were not disclosed. “The acquisition of Ascoma is part of our global strategy to create an insurance brokerage leader in Africa and the Middle East, and to offer these markets a complete range of insurance solutions. We believe that beyond the market development and commercial synergies, the experience, know-how and governance of both Chedid Capital and ASCOMA will give shape to our ambitious Group in the interest of our clients, partners, and team," Farid Chedid, Chedid Capital Founder.