Good results for CNIA Saada in 2013

Insurance company CNIA Saada, which has been renamed Saham Assurance reported a premium increase of 8.5% in 2013 at 3.5 billion MAD (434 million USD), with life and non life classes progressing differently. Non life insurance turnover rose by 12% at 3.1 billion MAD (384 million USD).

Motor insurance accounts for 56.4% of this class of business. Life insurance continues its decline to around 400 million MAD (50 million USD), that is a decrease of 13.6%. Combined ratio is set at 96.2%. Gross technical result improved significantly with a growth rate of 323.9% at 195 million MAD (24 million USD). Net income amounted to 281 million MAD (34 million USD) (+ 6.5 %).

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