Morocco: Leading insurer sees group turnover rise by over 9% in 2023

Published on March 1, 2024
Wafa Assurance, a leading insurer in Morocco, has posted a consolidated turnover of MAD12,724m ($1,266.4m) for 2023, an increase of 9.3% compared to 2022.
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Combination of factors led to a “strong recovery” in reinsurance capital in 2023: Fitch

March 1, 2024
According to analysts at Fitch Ratings, the combination of a strong earnings generation, the stabilisation of financial markets, and the move to the accounting standard IFRS17 of major reinsurers, has led to a “strong recovery” in reinsurance capital in 2023.Fitch said that it expects it to have grown by 11% to reach around USD 535 billion, by end-2023, partially reversing the losses seen in 2022.

Core Specialty announces Specialty Markets Group transfer from American National

March 1, 2024
American National Group is to transfer Specialty Markets Group (SMG), a writer of credit-related insurance products based in the US, to Core Specialty.Mark Walker will join Core Specialty as President of the newly formed Financial Services Division, which will operate as Core Specialty’s 16th specialty business unit within its Bond, Credit & Guarantee subsegment.This subsegment is comprised of the