Despite the crisis, Wafa Assurance is doing well. The written premiums for the year 2009 amount to 4.298 billion MAD (548.8 million USD), that is a 3.5% progression. It is the non life class of business which, thanks to a 15.4% increase and a turnover of 1.717 billion MAD (219.2 million USD), is sustaining the company's operations. With 2.581 billion MAD (329.5 million USD) of premiums in 2009, the life class of business is falling back by 3.2% in comparison with the previous year. Wafa's excellent performance is accounted for by the net profit it achieved and which rose from 468 million MAD (58.8 million USD) in 2008 to 677 million MAD (86.4 million USD) in 2009, that is, a 45% increase, by the shareholder's equity's improvement by 27.4% and by the return on equity at 38.9% in 2009 (+6.2 points in comparison with 2008).
