JA slide show
You are here: Home About Us Shareholder Profile

Shareholder Profile

E-mail Print PDF

Current Shareholders of HSI (% Shareholding)

Corvina Investment Co Ltd (50%)

In 1998, Simba Holdings Ltd became part of the Corvina Investment Group and accordingly, Simba’s shares in H Savy Insurance Co Ltd were transferred to Corvina Investment.

Corvina Investment Co Ltd currently comprises of some 25 companies (subsidiaries & associates) with interests in various sectors, including shipping, airline, tour operating, hotels and real estate. Along with Constance Hotels of Mauritius, Corvina has been a key promoter of 5-star resorts in Seychelles with substantial stakes in the US$70 million Lemuria Resort on Praslin and the US$156 million Ephelia Resort on Mahe. Its other tourism holdings include the inbound tour operator 70 South Ltd and outbound tour operator Bunson Travel Ltd. Through one of its subsidiaries, it also holds substantial share in Silhouette Cruises Ltd, operators of inter-island cruising yachts.

On the shipping front, Corvina owns Mahe Shipping Co Ltd and has interests in the commercial port operator, Land Marine Ltd, Societe Seychelloise de Navigation Ltd, as well as in the shipping agency, Aquarius Shipping Agency Ltd.

Mauritian Eagle Insurance Co Ltd (20%)

Mauritian Eagle forms part of Ireland Blyth Ltd, one of the top corporate groups listed on the Mauritius Stock Exchange. It also ranks amongst the leading insurance service providers in Mauritius with gross premium income of around R380 million.

In 2005, Mauritian Eagle Company Ltd increased its stake in H Savy Insurance from 15% to 20% by purchasing shares from Hannover Reinsurance (ex-Hollandia Reinsurance) which had decided to withdraw from all its non-core investments in the region.

Harry Savy & Co (Seychelles) Ltd (18.75%)

H Savy Insurance Co Ltd has its historic roots in Harry Savy & Co (Seychelles) Ltd, which was a leading local insurance company in the years prior to 1980 when the insurance industry was nationalised.

Harry Savy & Co was amongst the three original promoters of H Savy Insurance when the latter started business in 1995 following the liberalization of insurance business in the country. It is currently an investment company with interests in Land Marine Ltd, warehousing complex and commercial property.

In 2005, it increased its stake in H Savy Insurance from 15% to 18.75% through a share purchase agreement with Hannover Reinsurance (ex-Hollandia Reinsurance).

Mahe Shipping Co Ltd (11.25%)

Mahe Shipping Co Ltd is a 100% owned subsidiary of Corvina Investment. It is one of the country’s oldest companies with a business history stretching back over a century. Currently, it ranks as one of the top two shipping/clearing/forwarding agents in the country.

Mahe Shipping holds 11.25% in H Savy Insurance Co Ltd.The shares were acquired in 2005 from Hannover Reinsurance (ex-Hollandia Reinsurance).