Wafa Assurance is a Moroccan insurance company and a subsidiary of Attijariwafa Bank. Founded in 1972, it is headquartered in Casablanca. The company operates in both life and non-life insurance segments, serving individual and corporate clients. It is part of the Al Mada holding group.
History The company was founded in 1972, under the name Société Nouvelle d’Assurances (SNA). A few months after its establishment, the company took over the portfolios of the local operations of two insurance companies, Saint Paul Fire and Norwich Union.
In 1989, Société Nouvelle d’Assurances changed its name to Wafa Assurance, reflecting its integration into Wafabank.
In 2003, following the merger between Banque Commerciale du Maroc and the Wafabank, Wafa Assurance became the insurance subsidiary of Attijariwafa bank.
In 2011, Wafa Assurance launched its assistance subsidiary, Wafa IMA Assistance, in partnership with the Inter Mutuelles Assistance.
In May 2023, the board of directors appointed Boubker Jai, former chief executive officer of Attijariwafa Bank, as chief executive officer of Wafa Assurance.
In 2025, Wafa Assurance acquired a 63.4% stake in Delta Insurance, a publicly listed insurance company based in Egypt.
In 2026, Wafa Assurance acquired part of the assets of Allianz Maroc.
Subsidiaries
Ivory Coast In February 2016, Wafa Assurance received regulatory approval to operate in Ivory Coast. In November of the same year, the company officially launched two subsidiaries: Wafa Assurance Vie Côte d’Ivoire and Wafa Assurance Côte d’Ivoire.
Cameroon On 8 July 2015, Wafa Assurance obtained regulatory approval for its subsidiary Wafa Assurance Vie Cameroun.
Senegal Wafa Assurance operates in Senegal through its subsidiaries Wafa Assurance Vie Sénégal and Wafa Assurance Sénégal.
Tunisia Wafa Assurance has been present in Tunisia since 2012. It launched a subsidiary under the name Attijari Assurance.
Key people Boubker Jaï, chairman of the board and chief executive officer, Member of the Executive Committee Badreddine Belghiti, Deputy Managing director Yasmine Aboudrar, Administrator - Representative of OGM Rachida Benabdellah, Administrator Hassan Bertal, Administrator Ahmed Ismail Douiri, Administrator Gilles Dupin, Administrator Mohammed El Kettani, Administrator Marie-Laure Mazaud, Administrator Magali Noe, Administrator Hassan Ouriagli, Administrator Aymane Taud, Administrator Abdelmjid Tazlaoui, Administrator
Ownership OGM (Owned by Attijariwafa Bank) 79.29%Attijariwafa Bank - CP relatif à la formation d’une alliance à parts égales avec SNI dans le capital de Wafa Assurance à partir de 2017. Attijariwafa bank. Retrieved 24 October 2023. Archived from the original on 24 October 2023 Others 20.71%
References