Wafa Assurance: 4.65 billion DH of turnover at the end of June 2019

The global turnover of Wafa Assurance, a subsidiary of Attijariwafa bank Group, amounted to 4.65 billion dirhams (MMDH) in the first half of 2019, up 3.1% compared to the same period of the previous year. By division, non-life sales in H1-2019 amounted to 2.39 billion dirhams, a sharp increase of 13.3%, thanks to good performances in both the commercial and commercial insurance market. in the retail market, said a statement from the insurance company, noting that non-life sales in the second quarter amounted to 750 million dirhams (MDH), an increase of 11.5%.

For its part, Life revenue in Q2-2019 was down 9% to 1.22 billion dirhams due to the fall in savings, which absorbs the good momentum of pension products via bancassurance, explains the same source. , noting that this downward trend impacted the turnover of this branch under S1-2019 which amounted to 2.26 billion dirhams, down 5.8%. Thus, the overall turnover for the second quarter of 2019 depreciated by 2.2% to 1.97 billion dirhams, notes Wafa Assurance, noting that at the balance sheet level, the net technical reinsurance reserves increase by 9.2 % to 30.6 MMDH. In addition, investments allocated to insurance operations also increased significantly by 9.5% to 31.9 billion dirhams.