AtlantaSanad continues to demonstrate strong financial performance and dynamic growth in 2024, with rising revenues, improved profitability, and key strategic initiatives that are driving its transformation.
The company’s revenue reached 5.26 billion dirhams this year, marking a 2.9% increase compared to 2023. This growth was primarily fueled by the strong performance of the non-life insurance segment, which saw a 5% rise to 4.01 billion dirhams. However, the life insurance sector experienced a 3.3% decline, falling to 1.25 billion dirhams, largely due to a slowdown in savings collection during the final quarter of the year.
Profitability also showed positive momentum, with net income rising by 3.1% to 456 million dirhams. Similarly, consolidated earnings increased by 3.6%, reaching 453 million dirhams.
In 2024, AtlantaSanad accelerated its digital transformation with the launch of a mobile application and the development of new technological tools. Among these advancements were a conversational chatbot powered by generative AI and a remote claims assessment service for auto insurance. The company also introduced digital vehicle insurance certificates, aligning with evolving industry regulations.
As part of its corporate social responsibility strategy, AtlantaSanad launched a specialized insurance offering for electric vehicles, promoting more sustainable mobility solutions. Additionally, it introduced an inclusive insurance product designed for low-income households in collaboration with CNRA and Barid Cash.
One of the year’s most significant milestones was the signing of a strategic agreement with Crédit du Maroc, making AtlantaSanad the bank’s exclusive bancassurance partner starting January 1, 2025. This partnership is expected to unlock new growth opportunities for the company.
To enhance operational efficiency, AtlantaSanad restructured its organization by business line, distinguishing between Corporate and Retail activities. As part of this reorganization, two new divisions were established, led by Mohamed Bel Baraka (Deputy General Manager, Corporate) and Abdessamad Talbi (Deputy General Manager, Retail).
Governance improvements were also a key focus, with the appointment of Mostafa Farnoune as Deputy General Manager of IT, underscoring the company’s commitment to digital innovation. Additionally, AtlantaSanad implemented a clearer separation between technical and operational functions to ensure more independent risk management.
