Saham Assurance [4] reported a turnover of 5.42 billion MAD (558.557 million USD) in 2019, up 3.8% compared to 2018. Non-life insurance posted a 3.5% increase in premiums to 4.32 billion MAD (445.197 million USD) with motor business driving this growth (+ 6.6% of premiums).
Despite a 5.2% decline in life premiums during the fourth quarter of 2019, the turnover amounted to 1.09 billion MAD (112.330 million), up 5.1% in comparison with the previous year. The investments increased by 8.6% to MAD 14.58 billion (US$1.502 billion). The technical provisions net of reinsurance also grew by 8.6% over the same period. The net profit rose slightly by 1% from 403 million MAD (41.531 million USD) in 2018 to 406 million MAD (41.840 million USD) at the end of December 2019.
Saham Assurances' board will propose, for its annual general meeting, the distribution of a dividend worth 40 MAD (4.12 USD) per share, equivalent to the one distributed last year.
Read also | Moroccan insurance market [5]