WAFA Assurance, the first insurance company in Africa, excluding South Africa

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Wafa Assurance (Morocco) achieved, by the end of 2016, a turnover of 7.314 million MAD (718.7 million USD), up by 14% compared to 6.407 million MAD(645.6 million USD) in 2015.
Wafa Assurance

Life insurance premiums increased by 18% from 3.422 million MAD (344.8 million USD) in 2015 to 4.043 million MAD (397.3 million USD) one year ago.

The non life premiums underwritten during 2016 amounted to 3.271 million MAD ( 321.4 million USD), up by 10% compared to 2015. Thanks to these results, the Moroccan company tops the African insurance market (excluding South Africa).

Wafa Group has recently developed an expansion policy in Africa. The first non-Moroccan subsidiary was founded in Tunisia (Attijari Assurance, a life insurancecompany), where the group reported a turnover worth 22.7 million USD in 2016. Other subsidiaries have recently been created in Senegal, Côte d'Ivoire and Cameroon.

CompanyCountryClass of business2014 turnover2015 turnoverGrowth rate(1)
In MADIn USDIn MADIn USD
Wafa AssuranceMoroccoLife3 422 132344 8144 043 121397 27718%
Non life2 985 287300 7973 271 376321 44510%
Total 6 407 419 645 6117 314 497718 72214%
Wafa IMA AssistanceMoroccoAssistance150 41715 156176 92917 38518%
Attijari AssuranceTunisiaLife238 31324 012231 49622 747-3%
Wafa Assurance VieSenegalLife6 30846 63655 2855 432NA
Wafa AssuranceSenegalNon life18 8651 90119 2341 8902%
Wafa Assurance Côte d'ivoireCôte d'ivoireNon life--616NA
Wafa Assurance CamerounCameroonLife--535NA
Group grand total6 821 322687 3167 797 555766 18714%

(1)Growth rate in local currency

exchange rate
USD/MAD as at 31/12
2015
2016
9.924
10.177
0
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Thu, 06/04/2017 - 16:20
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