AtlantaSanad Assurance closed 2024 on a strong note, reporting a revenue of 5.26 billion dirhams, a 2.9% increase compared to the previous year. This growth was primarily driven by the solid performance of its Non-Life insurance segment, which saw a 5% rise, reaching 4.01 billion dirhams—an increase of 190 million dirhams.
In contrast, the Life insurance segment experienced a decline of 3.2%, with revenue dropping to 1.25 billion dirhams. This downturn was largely due to a decrease in savings-related products.
The final quarter of 2024 proved particularly strong for the company, with revenue surging by 16.8% to reach 1.309 billion dirhams, up 188 million dirhams from the same period in 2023.
Non-Life insurance recorded an exceptional quarterly growth of 50.5%, totaling 983 million dirhams. Meanwhile, the Life segment saw a sharp decline of 30.3%, generating 326 million dirhams, impacted by weaker demand for capitalization products.
These results reinforce AtlantaSanad Assurance’s growth momentum, supported by the strong expansion of its Non-Life segment, despite challenges in the savings market. With this solid performance, the company is well-positioned to continue its expansion and strengthen its presence in Morocco’s insurance sector.
