RABAT – Morocco’s biggest insurer, Wafa Assurances, on Monday reported a 2014 net profit of 839 million dirhams ($88.55 million), up 7.6 percent.
The company said revenues rose 5.6 percent to 6.08 billion Moroccan dirhams, including a 7.1 percent rise in life insurance to 3.02 billion dirhams and a 4.8 percent rise in its non-life business to 3.05 billion.
Wafa Assurances said return on equity, a gauge of profitability, was at 20.5 pct in 2014.
The company, owned by Attijariwafa Bank, proposed a 97 dirhams per share dividend and a special dividend of 142 dirhams per share.
Shares of the company opened up 4.5 pct at 4,140 dirhams on the Casablanca stock exchange after the results.
($1 = 9.4848 Moroccan dirham) (Reporting by Aziz El Yaakoubi; editing by Jason Neely and Jane Merriman)
