Wafa Assurance to acquire 99.98% of La Marocaine Vie in deal with Saham Group

Moroccan insurer Wafa Assurance has signed an agreement with Saham Group to acquire 99.98% of La Marocaine Vie, expanding its presence in the country’s life insurance and savings market while securing a long-term insurance distribution partnership with Saham Bank.

The agreement would bring La Marocaine Vie, a company operating in Morocco since 1978, under Wafa Assurance’s ownership, subject to regulatory approval.

Under a separate bancassurance agreement concluded alongside the acquisition, Saham Bank will continue distributing insurance products through its branch network, with Wafa Assurance providing insurance expertise and jointly developing new products for the bank’s customers.

Wafa Assurance said the acquisition would strengthen its position in life insurance, savings and personal protection, with plans to invest in La Marocaine Vie’s operations, technology and product development.

La Marocaine Vie generated MAD 2.5 billion in gross written premiums in 2025, making it an established participant in Morocco’s personal insurance market.

Wafa Assurance, founded in 1972 and affiliated with Al Mada and Attijariwafa Bank, reported MAD 15.2 billion in consolidated gross written premiums in 2025. The insurer operates across seven African countries in both life and non-life insurance.

The companies said existing policyholders and Saham Bank customers would face no changes to their contracts, coverage, terms or usual points of contact.

Customers will not be required to take any action during the ownership transition.

The post Wafa Assurance to acquire 99.98% of La Marocaine Vie in deal with Saham Group appeared first on HESPRESS English - Morocco News.