Attijari Assurance Announces 2024 Profit of 11,900 MTND
Attijari Assurance has announced a 2024 profit of 11,900 MTND, compared to 11,705 MTND in 2023. The subsidiary of Attijari Bank saw its revenue reach 142,364 MTND, up from 133,936 MTND the previous year.
Asset Management Boosts Revenues
Asset management has reinforced the insurer's revenues, with investment products worth 64,386 MTND allocated to the income statement. The total investment portfolio stands at 752,042 MTND, with 606,035 MTND in fixed-income products. The portfolio of sovereign debt securities (Treasury bonds and National Loan bonds) has increased to 635 MTND, making Attijari Assurance one of the main investors in public securities. Note that the latent gain is estimated at 8,263 MTND, giving the insurer a good margin of maneuver.
Claims and Provisions
The claims ratio for the year stood at 89,209 MTND, a significant increase compared to 2023 (53,761 MTND). The pace of technical provision constitution has been more favorable than in previous years, with variations in life insurance provisions of 77,035 MTND (101,898 MTND in 2023). Gross technical provisions stood at 822,477 MTND as of 2024, with 791,466 MTND for the savings segment and 31,010 MTND for the death segment.
Operating Expenses and Technical Result
Operating expenses increased by 18.8% to 14,350 MTND. The technical result stood at 21,778 MTND.
Maintaining Profitability and Dividend Distribution
The insurer has maintained its excellent profitability and has become a key player in the Attijari Bank group. Shareholders have been convened to an ordinary general meeting on June 12, 2025. The dividend to be distributed is 7,790 MTND, or 7,790 TND per share. A positive point for the bank's parent company shareholders.
