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Wafa Assurance Jumps 9.8% in Net Profit as Group Premiums Hit MAD 10 Billion
Wafa Assurance posted consolidated net profit of MAD 760 million in H1 2026, up 9.8% year-on-year, driven by robust domestic operations and strategic expansion in Egypt. Group premiums surged 27.2% to MAD 10.03 billion, with life insurance up 41.9%, though consolidated equity declined 1.8% due to market volatility.
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Consolidated Financial Performance
Wafa Assurance delivered strong H1 2026 results with consolidated net profit reaching MAD 760 million, representing a 9.8% increase year-on-year. The growth stems from sustained domestic performance and enhanced contribution from international subsidiaries, particularly the Egyptian operations consolidated since Q4 2025.
Premium Growth: Group premiums soared 27.2% to MAD 10,031 million, compared to MAD 7,883 million in H1 2025.
- Life Insurance: Premiums reached MAD 5,470 million, up 41.9%, driven by significant savings collection.
- Non-Life Insurance: Premiums grew 13.3% to MAD 4,561 million, supported by all lines of business in Morocco and strong international momentum.
Insurance revenue under IFRS standards totaled MAD 5,006 million (+14.9%).
Balance Sheet Impact
Consolidated equity stood at MAD 14,692 million, down 1.8% from year-end 2025, reflecting market volatility during the first half.
Social Accounts Highlights
The parent company's semi-annual revenue reached MAD 8,299 million (+25.4%), with life insurance up 46% to MAD 4,456 million. Non-life revenue grew 7.7% to MAD 3,843 million. Net social profit rose 2.7% to MAD 606 million, while social equity increased 1.1% to MAD 7,431 million.