WAFA ASSURANCE : Profit growth of 0.7% in the first half of 2025

(LVDE) – At the close of the first half of 2025, Wafa Assurance reported solid financial performance, with net income on the rise and strong revenue growth, mainly driven by its international expansion.

Wafa Assurance, a subsidiary of the Al Mada holding company and the Attijariwafa Bank Group, ended the first half of 2025 with encouraging results. On September 30, 2025, the group announced that its consolidated net income attributable to shareholders reached 692 million dirhams (MDH), marking an increase of 0.7% compared to the same period in 2024. This stability in profits reflects the company’s resilience despite a sometimes uncertain economic environment.

The group’s consolidated revenue stood at 7.883 billion dirhams, representing a significant increase of 10.3% year-on-year. This performance is largely attributed to the growth of its international subsidiaries, particularly in life insurance and savings. Wafa Assurance operates in several African countries, including Cameroon, Gabon, Côte d’Ivoire, Senegal, Tunisia, and Egypt, enabling it to diversify its income streams and tap into new markets.

The group’s premiums also followed an upward trend, reaching 7.883 billion dirhams, up 10.3% from the first half of 2024. This growth was supported by positive performances in both domestic and international markets, with an 11% increase in the non-life insurance segment and a 9.5% rise in life insurance.

In non-life insurance, Wafa Assurance recorded standalone revenue of 3.568 billion dirhams, up 10.7%. This segment was boosted by both corporate and individual activities, generating a result of 353 million dirhams, a sharp increase of 41.5%. This performance highlights a positive dynamic and a strengthening of Wafa Assurance’s position in the market.

As for life insurance, revenue reached 3.052 billion dirhams, recording growth of 4.5%. The result for this segment saw a significant increase of 36.8%, reaching 391 million dirhams. These favorable outcomes stem from strong commercial momentum and a supportive financial environment.

Alongside these operational successes, Wafa Assurance has also strengthened its financial solidity. Consolidated equity attributable to shareholders amounted to 14.303 billion dirhams as of June 30, 2025, up 13.8% compared to the end of 2024. This improvement in equity underscores prudent management and a robust growth strategy.

Wafa Assurance is not planning to stop there. As part of its international expansion strategy, the company aims to extend its presence in Africa’s English-speaking markets. This initiative seeks to capture new opportunities and further diversify its portfolio, thereby consolidating its leadership position on the continent.

In summary, Wafa Assurance has demonstrated its ability to navigate a complex environment while delivering strong results in the first half of 2025. With improved financial performance and a clear expansion strategy, the group appears well positioned to continue growing in the African market and beyond.

Tressy Chouente