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Moroccan insurer makes 1st Mauritian acquisition

Morocco's Saham Finances SA, parent of , acquiredMauritius-based Sun Insurance Co. Ltd. for an undisclosed amount, Reutersreported Sept. 21.

The deal is Saham's first in Mauritius, but the latest in aseries of acquisitions in Africa over the past several years, Reuters noted.Saham said the acquisition would allow it to consolidate its presence in Kenya,Rwanda and Madagascar.

Saham GroupSA is the ultimate parent of Saham Finances and Saham Assurance.