Wafa Takaful: Wafa Assurance's new subsidiary

Wafa Takaful, a subsidiary entirely owned by Wafa Assurance, has been granted a license by the Moroccan Supervisory Authority of Insurance and Social Welfare (ACAPS) to carry out family, investment and general Takaful activities.

The new entity, which will launch operations in March 2022, is proposing three products:

1. death coverage for family protection
2. comprehensive coverage of the financed property
3. long-term savings to secure additional income upon retirement

The creation of Wafa Takaful is expected to consolidate the Moroccan group's status as a universal insurer.