En Non-life, consolidated turnover amounted to 3.256 billion, a slight increase of 0.5%, AtlantaSanad said in a financial press release, adding that the turnover of Life activity is identical to that of social.
Indeed, in social terms, the turnover achieved by AtlantaSanad Assurance stood at 4.145 billion, marking a virtual stagnation compared to September 30, 2021.
The non-life business recorded slight growth with turnover of 3.195 billion, up 0.5% due to the consolidation deployed on the post-merger portfolio. In life, premium income amounted to 950 million, down 6.8% due to lower inflows on savings and capitalization products.
For the third quarter of 2022, AtlantaSanad recorded sales of 1.063 billion, down 9.8%. In non-life, sales amounted to 803 million dirhams and show a contraction of 7.3%. In life, sales stood at 260 million, down 16.7%, in line in particular with the exceptional level of inflows achieved on capitalization products during the 3rd quarter of 2021.
In addition, the press release underlines that as part of the restructuring of the financial division of the Holmarcom Group, AtlantaSanad proceeded during the 3rd quarter of 2022 to the transfer of the subsidiary Atlanta Côte d’Ivoire to the holding company Holmarcom Africa Financial Services.
(With MAP)