The main indicators of Saham Assurance Maroc experienced an upward and downward trend in the 4th quarter of 2020, according to data communicated by the board of directors meeting on February 23, 2021.
Overall turnover amounted to MAD 5,126 million ($ 575 million) as of December 31, 2020, down 5.5% compared to the end of 2019, mainly impacted by the decline in life business. In fact, the turnover of the life activity amounted to MAD 819 million ($ 92 million), a decline of 25.5% compared to the end of 2019, under the effect of the drop in collection of saving.
For its part, the net result stood at 201 million dirhams ($ 22.5 million) in 2020, against 406 million dirhams (45.5 million dollars) in 2019, i.e. an absolute decrease of 205 million dirhams (23 million dollars). dollars). This result was impacted by the poor performance of the financial markets as well as by the suspension or reduction of dividend payments.
As for equity, they grew by 1.8%, or MAD 4,478 million ($ 502 million) at the end of December 2020, against MAD 4,401 million ($ 494 million) in 2019.
At the end of December 2020, the investments allocated to insurance operations amounted to MAD 14,793 million ($ 1.6 billion), an increase of + 1.4% compared to the end of December 2019. Net technical provisions from assignees grew by + 0.8% during the same period.
Despite these results, the board of directors of the company decided to propose to the ordinary general meeting to pay dividends. The distribution will be 20 Dirhams ($ 2.24) per share for fiscal year 2020 against 30 Dirhams ($ 3.37) in 2019.
However, the company has shown confidence in its ability to maintain its medium-term profitability targets and consolidate its fundamentals.