Morocco: Atlanta Sanad posts stagnating turnover for 2022
Wednesday, 01 March 2023 17:07
(Ecofin Agency) - In its financial results for the fourth quarter of 2022, the Moroccan insurer posted a $521.3 million turnover for 2022, slightly above the 2021 turnover.
Last Tuesday, Moroccan insurance company Atlanta Sanad Assurances posted its Q4-2022 report. In the report, the company posted a MAD5.4 billion ($521.3 million) turnover for 2022, slightly above the MAD5.4 billion ($521 million) turnover in 2021.
The stagnant performance can be explained by the 9.7% decline in revenues from Atlanta Sanad Assurances' life business in 2022 to MAD 1.2 billion. Yet, in 2021, the life business grew by 24.3% to MAD1.3 billion.
Atlanta's non-life revenues reached MAD 4.1 billion (+3.3%) in 2022, compared to MAD 4 billion (+5.1%) in 2021, with the workplace insurance and miscellaneous risks branches declining due to the impacts of the coronavirus health crisis.
Let’s note that in the third quarter of 2022, Atlanta Sanad Assurances transferred its Ivorian subsidiary (Atlanta Côte d'Ivoire) to the holding company Holmarcom Africa Financial Services.
Chamberline Moko
Live News
-
Senegal Launches PAVIE II to empower women and youth, drive food security
12:09
-
Benaiah Wepundi Tackles Payment Hurdles for Emerging Market Freelancers
10:48
-
India’s Spiro Launches Electric Motorbike Operations in Cameroon
04:14
-
Cameroon Proposes Special Fund to Fix Waste Management and Payment Delays
04:08
-
Cameroon Cracks Down on Illegal Currency Exchange in Yaoundé and Douala
22:23
-
New Gas Filling Plant in Bamenda Cuts Domestic LPG Prices by 18%
21:54
-
Togo Sets May 20 Deadline for Municipal Election Candidates
19:49
-
Togo Begins Climate Finance Capacity Building Meeting
19:37
-
Afrobarometer: 54% of Togolese Want Togo to Join Sahel Alliance
19:31
-
Faure Gnassingbé Opens African Union Debt Conference in Lomé
19:24
Tanzania will now require all local transactions to be priced and paid in Tanzanian shillings. ...
KoBold Metals, the U.S.-based mining company backed by heavyweight investors including Bill Gates an...
This initiative reflects ECOWAS’s commitment to a results-driven, people-centred digital transformat...
• MTN to distribute 1.2 million 4G smartphones at $5.42 for prepaid users.• Move supports South...
• PalmPay plans to enter South Africa, Côte d’Ivoire, Uganda, and Tanzania by late 2025• The fintech...
Senegal has officially launched the second phase of the Project for Support and Promotion of Women's and Youth's Entrepreneurial Initiatives (PAVIE II) at...
Lucara Diamond increased the underground mine construction costs at its Karowe diamond project in Botswana by 25%. The company now estimates the cost at...
AngloGold Ashanti operates only one mine in Guinea, the Siguiri gold mine, in which it holds an 85% stake. Last year, the mine delivered 273,000...
Platinum group metals (PGM) producers in South Africa face falling prices and operational headaches. Companies have cut staff and watched revenues shrink....
A marketing expert by trade, he leverages his skills to support businesses. With a passion for both music and technology, he also developed a platform...
In Kumasi, the historic capital of the Ashanti Kingdom in Ghana, traditional buildings stand as living testaments to the cultural legacy of one of West...