CNIA-SAADA did better than expected in 2010

Despite the deterioration of its life business, CNIA-SAADA achieved a performance well above the one announced when it got listed in October 2010. The premiums volume for 2010 has risen by 5.1% and amounted to 2.97 billion MAD (356 million USD).

The company’s market share is about 14%, confirming its position as the country’s number four insurer. CNIA-SAADA remains the leader in motor insurance.
The net profit was up by 7.7% at 303 million MAD (36 million USD), that is, 3 million MAD (359 490 USD) more than previously forecast. The technical result jumped by 22% at 489 million MAD (58 million USD) compared to a 10.4% estimate last October. Return on equity is established at 12.8%.