Atlanta, the insurance subsidiary of the Moroccan group Holmarcom, has just announced during the presentation of its half-year results that it is considering developing in sub-Saharan Africa and going into Islamic insurance.

"We are currently reviewing a number of possibilities to get established on the continent", declared the CEO of the company, Hassan Bensalah (photo), however stating some difficulties in this path. "There is a will but it is difficult to start considering the specificities of the sub-Saharan market do not mirror the ones on the Moroccan market", he explained to the magazine Challenge.

Moreover, Mr. Bensalah revealed that his company is considering taking its first steps in the Islamic insurance market. "It is a subject we are studying. We are going to implement the Takaful insurance", he said.

The foray in the Takaful insurance field is, according to him, an ambition that the insurance company shares with its partner CIH Bank (Crédit Immobilier et Hôtelier). To recall, CIH Bank completed by end 2014 the acquisition of a 10% stake in Atlanta. "This is a cross ownership reflecting the desire of both companies to develop bancassurance together", Hassan Bensalah.

During the first half of 2015, Atlanta had a consolidated turnover of over 2,008 billion dirhams, an increase of 6.6% compared to the same period in the previous year. This growth is explained by an increase of 14.3% for life policies and 5.6% for non-life policies.

The company thus has a market share of 6.2%. Per segment, this represents 7.8% in the non-life section and 2.4% in the life segment.

The net consolidated profit was of 131 million dirhams during the first half of 2015, an increase of 9.2% compared to the same period the year before.