Insurance: AFMA confirms its good performance, 15% increase in turnover at the end of June 2022

By Majda Benthami on 08/29/2022 at 4:56 p.m.

AFMA Group offices.

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The AFMA group has just published its activity indicators for the first six months of the year. The insurance intermediary confirms its resilience thanks in particular to the acquisition of new subsidiaries.

At the end of June 2022, the insurance intermediary, leader of the Moroccan market, achieved a consolidated turnover of 134.5 million dirhams against 117.1 million dirhams during the same period a year earlier, an increase of 15 %, indicates the AFMA group in a press release.

This good performance is mainly explained by the completion of new business in 2022 and by the integration of the turnover of the subsidiaries acquired and entered into the scope of consolidation since the 2e half of 2021, namely ACR in Ivory Coast and Jean Busnot Morocco, explains the group’s top management.

Adjusted for external growth, the turnover of the AFMA group thus increased by 12% between the first half of 2021 and the first half of 2022. AFMA’s corporate turnover reached a total of of 111.1 million dirhams for the first six months of the year against 103.7 million dirhams in 2021, an increase of 7%.

Investments made by the AFMA group at the end of June 2022 amounted to 4.9 million dirhams compared to 2.2 million dirhams at the end of June 2021. The group’s consolidated net financial debt stood at 40.3 million dirhams at the end of June 2022 compared to 10 million dirhams at the end of December 2021.

This increase is mainly explained by the amount of dividends for the 2021 financial year paid in July 2022 for an amount of 54.8 million dirhams, underlines the group in its press release.

By Majda Benthami

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