Declining profit for Wafa Assurance

Wafa Assurance has posted a net profit down by 9.5% at 733 million MAD (87 million USD) in 2012. The stock market situation is responsible for this evolution. In terms of production, the insurer sustained growth of life and non life business. Life insurance has witnessed a 6.8% increase of turnover at 3 billion MAD (356 million USD).
Despite an increase of the loss experience, non-life insurance has confirmed its good health, exhibiting an increase of 10.5% at 2.7 billion MAD (320 million USD). Technical result has decreased by 17% at 737 million MAD (87 million USD) in non-life insurance whereas it has grown by 5.3% at 276 million MAD (33 million USD) in life business.