Wafa Assurance to acquire majority stake in La Marocaine Vie

Wafa Assurance has reached an agreement with Saham Group to acquire 99.98% of the share capital of La Marocaine Vie, the group’s life insurance subsidiary.

The transaction is expected to expand Wafa Assurance’s footprint in Morocco’s life insurance market and further consolidate its position in the sector.

The financial terms of the acquisition and its expected completion date have not been disclosed.

The deal remains subject to approval from the relevant regulatory authorities, including the Supervisory Authority of Insurance and Social Welfare (ACAPS).

Alongside the acquisition, Wafa Assurance and Saham Bank will establish a long-term bancassurance partnership.