Zurich Assurance, excellent 2009 results

Despite a difficult environment, Zurich Assurance has posted a turnover of 820 million MAD (104 million USD) in 2009 that is a 10,8% progression in comparison with 2008. It is worth reminding that the entire Moroccan market has progressed by only 6% in 2009. Thanks to a 1.5 point improvement of the combined ratio, non-life underwriting results reported profits of 22.1 million MAD (2.8 million USD). As to life underwriting result, it amounted to 3.6 million MAD (459 720 USD). The rising turnover has been realized thanks to the enhancement of the company's network of general agents.