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Feb 2018 Wafa Assurance posted, at the end of 2017, a net profit (result) of 819 million MAD (87.7 million USD), down by 2.6% compared to 2016.
This decline is accounted for by the increase in the motor loss claims experience and in the cost of reinsurance. The turnover recorded a sharp rise of 10.1% at to 8.05 billion MAD (862.8 million USD).
The combined ratio deteriorated by 3.4 points to 101.3%.
The Moroccan insurer's shareholders' equity rose by 7.7% to reach 5.58 billion MAD (598 million USD) at 31 December 2017.
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