Wafa Assurance: Result 2018 in halftone

The Moroccan insurer Wafa Assurance ended the year 2018 with a turnover of 8.371 billion MAD (875.294 million USD), an increase of 4% over one year.

Life insurance premiums grew by 5.7% to reach 4.683 billion MAD (490 million USD). Non-life insurance recorded a turnover of 3.688 billion MAD (386 million USD), up by 1.9% compared to 2017.

Despite the activity's growth, the net result fell by 25.8% at 608 million MAD (64 million USD). This decline was accounted for by the decreasing performance of non-life insurance. The latter's net result dropped by 54% to reach 360 million MAD (38 million USD).

The company will propose, during its ordinary general meeting, a stable dividend of 120 MAD (13 USD) per share.

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