Wafa Assurance Reports Strong Growth Driven by New Egyptian Subsidiaries in 2025
2025 Premium Volume Overview
By the end of 2025, Wafa Assurance reported a total premium volume of 15.23 billion MAD, marking a notable increase of 10.9% compared to the previous year. This growth was driven by strong performance in both domestic and international markets.
A significant contributor to this upward trend was the integration of new Egyptian subsidiaries, Delta, in the fourth quarter of 2025.
Performance by Business Segment
In terms of business segments, the Life Insurance sector generated premiums of 6.06 billion MAD, reflecting a growth of 5.8%. This increase was primarily fueled by rising savings account balances and strong performance in insurance products.
Conversely, the Non-Life Insurance segment saw premiums rise to 9.17 billion MAD, a 14.6% increase, benefiting from growth in the Automotive and Corporate sectors, as well as the expansion of African subsidiaries.
Fourth Quarter Highlights
In the fourth quarter of 2025 alone, consolidated premiums reached 3.94 billion MAD, up 8.9%, which underscores the Group's solid operational performance.
Financial strength indicators showed that consolidated technical and financial products amounted to 100 million MAD in the fourth quarter, representing a 12% increase from 2024.
Additionally, consolidated investments grew by 15.5%, reaching 67 billion MAD.
Expansion of Consolidation Scope
During the fourth quarter of 2025, the Group expanded its consolidation scope with the addition of the following entities:
• Delta Insurance Company (Egypt): Life and property insurance (35% ownership).
• Delta Life Insurance (Egypt): Life insurance (100% ownership).
• Wafa Life Insurance (Egypt): Currently seeking approval in 2025.
• Wafa Real Estate Investment (Morocco): Established in 2025.
Social Indicators and Revenue Growth
As of December 31, 2025, the social revenue reached 12.74 billion MAD, an increase of 8.4%, largely attributed to the Non-Life segment.
The Non-Life revenue stood at 9.59 billion MAD, up 12%, driven by sustained growth in the Automotive and Corporate segments.
In contrast, Life revenue was recorded at 3.15 billion MAD, a modest increase of 0.9%, supported by ongoing developments in bancassurance and Mada insurance.
For the fourth quarter of 2025, Wafa Assurance Morocco's revenue rose by 10.9% compared to the same period in 2024, totaling 3.52 billion MAD.
Social technical and financial products amounted to 94 million MAD as of December 31, 2025, reflecting a 4.1% increase from the end of 2024.
Investments also showed significant growth, reaching 53 billion MAD, an increase of 12% as of the same date.
