(Ecofin Agency) - In a statement published on August 15, 2018, the Moroccan company Wafa Assurance informed that its H1, 2018 net result could drop by 25%.  

This subsidiary of Attijariwafa Bank which owns about 20.7 % of the Moroccan insurance market indicated that this counter-performance is due to a rise by MAD240 million of net claims (the amount it should refund). These net claims were boosted by the rise of automobile claims as well as 3 major and costly disasters.

By the end of 2017, the company’s net result slumped by 2.6% to stand at MAD819 million. It justified this result by invoking the frequency of automobile claims. Indeed, in July 2018, while presenting its forecasted H1,2018 results, the insurance broker listed on Casablanca stock exchange, Afma assurance, indicated that its results would be affected by the payment of MAD9.5 million to the fiscal administration.

Chamberline Moko