Wafa Assurance: 2020 first quarter results

Wafa Assurance recorded a turnover of 2.970 billion MAD (295.7 million USD) in the first quarter of 2020 against 2.685 billion MAD (267.342 million USD) in 31 March 2019, increasing by 10.6% over one year.

The net reinsurance technical reserves were established at 33 billion MAD (3.285 billion USD) however, the investments reached 33.4 billion MAD (3.325 billion USD). The economic and financial crisis caused by COVID-19 may impact Wafa Assurance's result of 2020.

The financial solidity of the first Moroccan insurer should enable it to deal with such a situation.

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