Saham Assurance publishes its 2018 results
Saham Assurance reported a turnover of 5.22 billion MAD (546 million USD) in 2018, up by 7.8% over one year.
Non-life premiums rose by 9.3% to reach 4.17 billion MAD (436 million USD). Life premiums amounted to 1.04 billion MAD (146 million USD), an increase of 2.1% compared to the previous year.
The technical result fell by 3.7% at 576.7 million MAD (60 million USD). This decrease is accounted for by the rising motor loss experience.
Affected by the declining technical result and by a tax adjustment, the net profit dropped by 8.5% to reach 402.9 million MAD (42 million USD) in 2018.
The Moroccan insurer will propose to its shareholders a dividend of 40 MAD (4 USD) per share, equivalent to the one distributed in 2017.
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