Saham Assurance: contraction of net income

The 2018 vintage will not remain exceptional in Saham Assurance’s accounts. The company recorded a net profit down 8.5% to 402 million dirhams (42 million dollars). (1 dollar = 9.53 dirhams).

The amplification of automobile claims and the impact of a tax audit explain this poor performance, reads the communiqué which sanctioned the board of directors held on February 25 under the presidency of Said Alj.

The insurer recorded a turnover of 5.22 billion dirhams, an increase of 7.8%, driven by the non-life branch, with a turnover of 4.17 billion dirhams, a growth of 9.3%. This dynamism contrasts with the life business up 2.1%.

The Board of Directors has decided to propose to the Ordinary General Meeting the distribution for the 2018 financial year of a dividend of 40 Dirhams per share, equivalent to the dividend distributed in 2017.

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