AtlantaSanad reported a turnover of 3.096 billion dirhams (MMDH) by the end of June 2024, reflecting a slight increase of 0.3% compared to the same period in 2023. This growth was primarily driven by the company’s life insurance segment, which saw a significant rise in revenue.
The life insurance division’s turnover reached 669 million dirhams (MDH), marking a robust 10.3% increase, or an additional 62 MDH, largely due to the expansion in the sale of savings products. This positive performance highlights the company’s success in capitalizing on consumer interest in long-term financial products.
In contrast, the non-life insurance segment experienced a downturn. Revenue in this segment amounted to 2.427 billion dirhams, a decline of 2.1% (52 MDH) compared to June 2023. This decrease is attributed to the high volume of new business in 2023, particularly in technical risk categories, which set a challenging benchmark for the current year.
For the second quarter of 2024 (Q2 2024), AtlantaSanad recorded a turnover of 1.133 billion dirhams, representing a 4.9% decline compared to Q2 2023. Within this period, the life insurance segment continued to perform well, with revenue reaching 330 million dirhams—a substantial 17.1% increase. Meanwhile, the non-life segment saw its revenue drop to 803 million dirhams, down by 11.8%, as the effects of the previous year’s technical risk sales lingered.
