News & Notices

Sacos celebrate its 38th Anniversary with a special mass!

Wednesday 22 August 2018

“There is no magic to achievement. It’s really about hard work, choices and persistence” – Michelle Obama

Sacos is proud to be celebrating 38 years of existence, and this was celebrated with its staff, shareholders, partners and its loyal customers at a special mass on Wednesday 22 August at the Immaculate Conception.

Over the years, Sacos has seen many changes and its vision now is to grow and “rebuild our trust with the people of Seychelles by increasing our relevance and visibility in the community”.

“Sacos is proud to have a “team” and not just a workforce behind it. The company has come this far thanks to the dedication and hard work of its people. The current business environment is getting tougher and more efforts are required to maintain the sustainability of the company” was the message to the staff from the CEO, Ms. Jennifer Morel as we celebrated 38 years.

 

Brief History

 

1 August 1980:

Sacos was established as a parastatal organisation following the enactment of the State Assurance Corporation of Seychelles Act of 1980. At the time, Sacos provided mainly general insurance services until later in 1990, when the Life and Pensions Division was set up

November 2005:

Following decision of Government to privatize up to 80% of its share in the company, the State Assurance Corporation Act 19980 was repealed and Sacos was incorporated as the State Assurance Company Limited, a limited liability company.

August 2013

Sacos became the first company to be listed on Trop-X when the government decided to sell all of its remaining shares. By May 2014, the government of Seychelles had fully sold all its 399,990 shares in Sacos.

 

The Sacos brand and name have evolved over the years. From 1985 to 2005, the company earned its moniker SACOS, an abbreviation of its name – State Assurance Corporation of Seychelles. Following the liberalization of the company in 2005, the company’s name changed to State Assurance Company Limited, but the company continued to use SACOS given public association with the name. In October 2011, Sacos changed its trading name to SACOS Group Limited.

In February 2017, the company embarked on a rebranding journey with the launch of a brand new logo and tagline ‘Here for you’. Sacos is now a standalone name and no longer an abbreviation, with the amalgamation of the company’s subsidiaries united under one name – the Sacos Insurance Group.

Since then, Sacos has been introducing the new brand identity through its marketing campaigns, image, products and service quality.  As the country’s largest and longest standing insurance provider, we strive to not only better our services and products to please our clients, but to continue to play a major supportive role in the progress and development of our small island community.

 

For more information, please contact:

Brigitte Appoo

Head of PR and Communications

Sacos Insurance Group

T 429 5000

E brigitte.appoo@sacos.sc