Morocco: insurer AtlantaSanad's turnover grew by 4.6% in H1 2021
Monday, 27 September 2021 18:03
(Ecofin Agency) - A year after it was born from the merger between Atlanta and Sanad, AtlantaSanad Assurance has released its financial results for the six months ended June 30, 2021. The company posted a turnover of MAD3.02 billion ($335 million), up 4.6%.
The performance was driven by the life segment which grew by 13.5% thanks to the recovery of the savings and pension activity. The non-life segment increased by 2.2% over the period. When compared to the second quarter of the year, the increase in revenue at the end of June 2021 was lower. From April to June 2021, AtlantaSanad's revenues rose by 7.3%, the best performance since January 2021.
In 2020, AtlantaSanad reached the top 5 Moroccan insurance companies with high market, alongside Wafa Assurance, RMA, Mutuelle Taamine Chaabi, and Saham Assurance. They have concentrated a market share of 69% of life and non-life insurance premiums written in Morocco.
Chamberline Moko
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