Wafa Assurance's turnover up 5.8% in 2019

Wafa Assurance reported a turnover of 8.853 billion MAD (912.34 million USD) in 2019 against 8.371 billion MAD (875.29 million USD) twelve months before, an increase of 5.8%. Life insurance premiums rose by 8.8% to 5.094 billion MAD (524.96 million) compared to 4.683 billion MAD (489.67 million USD) one year earlier.

Non-life premiums amounted to 3.759 billion MAD (387.38 million USD), up 1.9% in comparison with the 3.688 billion MAD (385.63 million USD) recorded in 2018. By 31 December 2019, the technical reserves net of reinsurance reached 32 billion MAD (3.3 billion USD) while the insurance investments increased to 33.3 billion MAD (3.43 billion USD), growing by 9.9% and 8.8% respectively.

Read also | Moroccan insurance market