NewsExit from Intendance Holding Ltd

Intendance Holding Limited (IHL) is the holding company of the Swan Group, one of the market leaders in the insurance sector in Mauritius, operating through Swan Insurance Company Limited (Swan) for General insurance and The Anglo-Mauritius Assurance Society Limited (Anglo) for life assurance, pensions, actuarial and investment business. On the 30th June 2016, The Kibo Fund LLC made its first exit through the disposal of its 17.02% stake in Intendance Holding Limited achieving an IRR of 80% (in euro terms) and realizing 2.3x money .The activities of the Group date back from 1854 and Swan has been listed on the Mauritius stock exchange since December 1990. Anglo is quoted on the Development and Enterprise Market (DEM). The Swan Group is one of the leaders in both the General insurance and life assurance, pensions, actuarial and investment business. It currently controls some 20% of total gross premiums of the market and commands 27% of total assets in the insurance market. During the course of our investment, the Group has also expanding regionally by acquiring a 37% stake in the Seychelles State Assurance Company (SACL) – the market leader in General and Life insurance in the Seychelles.