Wafa Assurance: Sales rose 12.1% at the end of September

In detail in the life industry, consolidated revenue at the end of September amounted to 4.41 billion DH, an increase of 13.4%, mainly explained by the growth of activity in Morocco, the company notes in a press release on its financial results. In non-life insurance, the cumulative consolidated revenue reached MAD 4.03 billion, an increase of 10.7% compared to the results achieved in all non-life branches in Morocco and abroad, the same source adds. For the third quarter of 2022, Wafa Assurance achieved a consolidated revenue under IFRS of MAD 2.56 billion, an increase of 23.8%. With regard to the group’s insurance provisions, they amounted to DKK 45 billion. DH at the end of September, an increase of 3.2%, and investments amounted to 50.5 billion. DH, down 1.5%. As far as the technical provisions excluding reinsurance are concerned, they amounted to DKK 37.3 billion. DH per 30 September 2022, an increase of 4.6%, while investments allocated to insurance operations amounted to 38.7 billion. DH on the same date, up 2.8%.

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