Wafa Assurance: net income increased by 47.4% in H1-2022

Wafa Assurance achieved net income group share (RNPG) of MAD 554 million in the first half, up 47.4% compared to the end of June 2021. This result is driven by the improvement in the technical and financial indicators of Wafa Assurance Maroc and the increase in the profitability of international subsidiaries, indicates the insurance company in a financial press release.

As of June 30, 2022, the Wafa Assurance Group achieved consolidated turnover (CA) of more than 5.89 billion dirhams, up 7.7% driven by the performance of the activity in Morocco and abroad. international, adds the same source. In detail, the consolidated turnover of the “Life” segment amounted to 2.99 billion DH, up 7.7% driven by the good dynamics of activity in Morocco and the good performance of activity. internationally. In “Non-life”, the consolidated turnover reached 2.90 billion dirhams, up 7.6% from the performance achieved in all the “Damage” branches in Morocco and abroad.

For their part, consolidated equity stood at 8.56 billion dirhams, down 6.9% due to the drop in the level of unrealized capital gains recognized in equity under IFRS (International financial reporting standards). in a bearish stock market environment.

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