New insurance company, Colina Madagascar

The birth of a new company, Colina Madagascar, endowed with a capital of about 1 000 000 EUR (1.2 million USD), shared between Colina Participation at 70% and African Financial Holding (the Bank of Africa Group). Run by Didier Buon, former Colina Santé, the new entity, which obtained license in December 29, 2005, started operating on January 1, 2006.