Wafa Assurances, turnover up by 5.9%

Despite a competitive market environment, the Moroccan insurer recorded a growth of 5.9% of its turnover in 2014.
The latter amounts to 6.078 million MAD (674.8 million USD) against 5 738 million MAD in 2013.

The non-life insurance has experienced, in detail, an increase of 4.8% at 3.059 million MAD (339.6 million USD), while life insurance gained 7.1% at 3.020 million MAD (335.2 million USD).

Net profit for the year amounted to 839 million MAD (93 million USD), up by 7.6% compared to that of 2013.

Wafa Assurance, the first Moroccan insurer in 2013 in terms of market shares, has also strengthened its shareholder’s equity by nearly 12%, reaching 4 937 million MAD (548 million USD) in late 2014.