Finance

Morocco: Atlanta Sanad posts stagnating turnover for 2022

Morocco: Atlanta Sanad posts stagnating turnover for 2022
Wednesday, 01 March 2023 17:07

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

On the same topic
Holmarcom to acquire BNP Paribas 67% stake in BMCI Deal pending approvals, expected to close Q4 2026 Move strengthens Holmarcom...
Strategy follows mining corridors and regional trade flows Expansion backed by record profits and pan-African growth plans Kenya's Equity...
WAEMU imposes new loan rate caps from June 1 BCEAO sets 14% for banks, 24% for others Reform aims to protect borrowers, align lending...
Bridge Bank Group plans to open a Guinea subsidiary in January 2027 as part of regional expansion. The group reported net profit of CFA27.2 billion...
Most Read
01

Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...

Two Other African-focused Private Equity Firms to Snap Up assets shed by Global Majors
02

Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...

Enko Capital Buys Burger King Côte d’Ivoire in Servair Restructuring
03

Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...

Libya Opens Dollar Sales to Ease Pressure on Dinar and Prices
04

From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...

Weekly Health Update | Vaccination Gains Advance in Africa; Antimalarial Resistance Threatens Progress
05

Standard Chartered arranges $2.33 billion for Tanzania railway project Funding support...

Tanzania Secures $2.33 Billion in Syndicated Financing for Standard Gauge Railway
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.