WAFA Assurance: turnover decrease in Q1 2022

WAFA Assurance has achieved a turnover of 2.818 billion MAD (288.56 million USD) in Q1 2022, a decrease of 2.9% compared to the same period in 2021.

Non-life premiums grew by 4.3% to reach 1.692 billion MAD (173.26 million USD) at the end of March 2022. Life insurance subscriptions on the other hand, amounted to 1.126 billion MAD (115.3 million USD), thus declining by 11.9% over one year.

As of 31 March 2022, investments allocated to insurance operations amounted to 38 billion MAD (3.9 billion USD) while net technical reserves stood at 36.3 billion MAD (3.7 billion USD).