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The group’s revenue increased by 12.1% at the end of September

Overall, Wafa Assurance Group achieved per September 30, 2022 a consolidated revenue of 8.45 billion MAD, an increase of 12.1%.

In Life, the cumulative consolidated revenue per September 30, 2022 MAD 4.41 billion, an increase of 13.4%, mainly explained by the growth of activity in Morocco.

In non-life insurance, the cumulative consolidated revenue per 30 September 2022 4.03 billion MAD, an increase of 10.7% compared to the results obtained in all the property and casualty departments in Morocco and l’international.

The group’s insurance provisions amounted to MAD 45 billion. per 30 September 2022, an increase of 3.2%, and consolidated investments amounted to MAD 50.5 billion. on the same date, down -1.5% in a bear market.

Social indicators

The revenue achieved by Wafa Assurance Maroc for the third quarter of 2022 amounted to 2.26 billion MAD, an increase of 18.2% compared to the third quarter of 2021.

On September 30, 2022, overall revenue is 7.62 billion MAD, an increase of 6.2%. The accumulated Life revenue per 30 September 2022 is at MAD 3.99 billion, an improvement of 3.8% driven by the growth of Provident products and the good performance of Savings.

Accumulated claims turnover per 30 September 2022 amounted to 3.62 billion MAD, an increase of 9% compared to the end of September 2021 due to the results in all claims branches.

The technical provisions after reinsurance amounted to MAD 37.3 billion. per 30 September 2022, an increase of 4.6%, and investments allocated to insurance activities amounted to MAD 38.7 billion. on the same date, an increase of 2.8%.

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