Insurance

NSIA Group celebrates 25th anniversary, targets top five positions in businesses

Janine Kacou DIAGOU

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Chuks Udo Okonta

NSIA Group, leader in the bancassurance sector in West and Central Africa, celebrated its 25th anniversary this year in the Group Head office at Abidjan and across Africa on January 14, 2020, approaching the new decade with confidence and new perspectives.

Founded in 1995, Nouvelle Société Interafricaine d’Assurance (the New Inter-African Insurance Company) – renamed NSIA – has experienced a tremendous rise in recent decades. From a family company of 10 employees, with a capital of 300 million FCFA and operating in the insurance sector in Côte d’Ivoire, the NSIA Group has today become a major player in bancassurance with 2,800 employees spread across 12 countries.

NSIA’s gradual and continuous growth has been driven by strategic acquisitions, first in Côte d’Ivoire and then in the sub-region. Assurances Généraux de France (AGF), International Bank of West Africa (BIAO) and more recently Diamond Bank (in African countries like Togo, Cameroun, etc. with the exception of Nigeria) are among the most notable transactions. “I am happy and proud of what has become of the NSIA Group today; the leader in the Banking and Insurance sector. I thank our customers and investors who have accompanied and trusted us to this day. NSIA is also the fruit of the implication of each of the collaborators whom I would also like to salute”, expressed Jean Kacou DIAGOU, President of the NSIA Group.

Committed to a winning strategy, the Group targets top five position in each of its businesses, in each of its countries of presence. This strategy revolves around innovation and internal growth. “The NSIA Banking offer is now well established in Côte d’Ivoire. The next step for NSIA Bank will be to strengthen its positions in the 5 countries of presence and to expand its presence in the countries covered by the insurance arm. We intend to actively participate in the banking of the West and Central African populations through financial inclusion programmes”, declared Janine Kacou DIAGOU, Director General of the NSIA Group.

“The Group’s Insurance division intends to respond to the major challenges of transformation of the African society. On the personal market, the rise of the middle class will require supporting the needs of populations in terms of protection and provident insurance while providing innovative solutions. The digitalization of our offers represents a tremendous growth driver”, explained Dominique DIAGOU EHILE, Group Deputy managing Director, Insurance of the NSIA Group.

The NSIA Group intends to play a major role in the development of the African economy and provide lasting responses to the socio-economic challenges of the next decade.

About the NSIA Group
NSIA is a financial services group that integrates banking and insurance products and services. NSIA Group acquired ADIC Insurance Nigeria in Year 2011 to further increase operations around Africa, as Nigeria is a major market. The Group operates in the Insurance sector in Nigeria and Ghana while operating in the Banking, Insurance and other sectors in 10 other African countries.

The NSIA Group is made up of 3 Banks, 3 banking subsidiaries, 20 Insurance Companies, 1 Management and Intermediation Company (SGI), 1 OPCVM Management Company, 1 Technology company, 1 Real estate company, 1 Reinsurance Brokerage Company, and 1 Foundation. It has more than 2,800 employees.

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