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Wafa Assurance: half-year turnover increase in 2021

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Magazine Issue: 
The insurance market consolidation in view of the post-Covid-19 [3]
Magazine date: 
Jul 2021

Wafa AssuranceAs at 30 June 2021, Wafa Assurance has recorded a turnover of 5.256 billion MAD (587.8 million USD), showing an 11.9% increase over a year.

Life premiums have grown by 19% to reach 2.799 billion MAD (313.02 million USD) during the first half of 2021. This performance is mainly due to the growth of the savings activity and to the good dynamics of social security products.

The non-life class of business has posted a turnover of 2.457 billion MAD (274.78 million USD), representing an improvement of 4.8% compared to the same period of 2020. The increase in non-life premiums is driven by corporate risks.

During the period under review, technical reserves net of reinsurance amounted to 35.5 billion MAD (3.97 billion USD) while the investments allocated to insurance operations amounted to 36.4 billion MAD (4.07 billion USD).

Read also | Ranking of Moroccan insurance companies [4]

Thu, 02/09/2021 - 09:42

Source URL: https://www.atlas-mag.net/en/article/wafa-assurance-half-year-turnover-increase-in-2021

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[3] https://www.atlas-mag.net/en/issue/the-insurance-market-after-the-covid-19
[4] https://www.atlas-mag.net/en/article/ranking-of-moroccan-insurers-according-to-2019-turnover