RMA Watanya

Upon its establishment in 1949, RMA is the first Moroccan company to operate in an insurance market dominated, at that time, by the representations and agencies of foreign companies.

This birth within a difficult context endows RMA with an historic “legitimacy”. It materializes the will of the new national elites to occupy the field of modern economy.

Two major events contributed to the recent development of the company. The first one dates back to 1988 with the takeover of RMA by Othman Benjelloun who gets the company into the world of finance.

Mr Fouad Douiri
Chairman of the management board

The second fact pertains to the merger carried out with another major player on the market: the company Al Wataniya, former subsidiary of the French group GAN.

Today RMA Watanya is an insurer of international renown. Side by side with Wafa Assurance for the market leadership, the company has developed on firm grounds and is now poised to extend its operations towards other fields.

RMA Watanya in 2008

Share in the Moroccan market
20%
Paid up capital
1 796 170 000 MAD (225 814 000 USD)
Turnover
4 001 896 000 MAD (503 118 000 USD)
Technical result
1 228 539 000 MAD (154 452 000 USD)
Net result
1 064 191 000 MAD ( 133 790 000 USD)
Solvency margin
989%
ROE
22.5%
Number of agencies
100
Number of direct management
offices
10
Number of employees
630
Presence
in 30 Moroccan cities

Management

Chairman of the management board
Fouad Douiri
General manager, Production and distribution
Abdellatif Hmidi
General manager, Claims and support
Taoufik Drhimeur
General manager, Real estate and finance
Reda El Alj

Main shareholders

Finance.com group
56%
GACM
20%
Other shareholders
24%

Main financial highlights: 2004-2008

in thousands USD

 20042005200620072008
Gross written premiums
311 888320 589363 310465 426503 118
Gross earned premiums
312 060317 473363 317459 763492 612
Net written premiums1
255 392262 600310 870416 906451 547
Gross incurred losses
272 410293 672331 696486 502489 721
Gross loss ratio
87.3%92.5%91.3%105.8%99.4%
Management expenses
80 40777 68685 94998 068104 134
Technical result
57 15955 30386 652146 299154 452
Financial income
120 042141 098174 347330 249324 656
Net result
49 70352 67668 264155 436133 790

1 Written premiums net of reinsurance

 

in thousands USD

Turnover's evolution per class of business: 2004 -2008

in thousands USD

 20042005200620072008
 Written premiums%Written premiums%Written premiums%Written premiums%Written premiums%07-08 growth
Non life
Motor
78 74325.279 92824.985 99223.7106 94623112 34322.35%
Property & misc. accident
131 68142.2133 26641.6137 42837.8145 37131.2156 86031.27.9%
Marine
23 8657.721 6496.813 7713.815 2443.318 3853.720.6%
Life
Total life
77 599 24.9 85 746 26.7 126 119 34.7 197 863 42.5 215 530 42.8 8.9%
Grand total
311 888100320 589100363 310100465 424100503 1181008.1%

Breakdown per class of business in 2008

Evolution per class of business 2004-2008

in thousands USD

Exchange rate
MAD/USD as at 31/12
2004
2005
2006
2007
2008
0.12233
0.11103
0.11891
0.13092
0.12572

Contact




Head office
83, Avenue de l’Armée Royale,
Casablanca, Morocco
Phone
(+212) 5 22 31 21 63
(+212) 5 22 31 01 69
Fax
(+212) 5 22 31 38 84
E-mail
info [at] rmawatanya [dot] com
Website
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