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FINANCIAL NEWS
Moroccan Saham Assurance posts drop in net profit for 2016
19 Mar 2017
(MENAFN) Moroccan Saham Assurance Company said in a statement that its net profit for 2016 had fallen by a 17.2% to 282m dirhams.
Also it said that net profit results were affected by an exceptional tax charge of 130m dirhams stemming from a 2012-2015 tax audit, as revenues increased 16.4% to 4.39b dirhams including a 113% increase in life insurance revenue to 774m dirhams.
On the other hand, non-life insurance revenue increased 6.1% to 3.6b dirhams.
Saham Assurance is part of Group Saham that was founded in 1995 by Moroccan tycoon and current trade and industry minister Moulay Hafid Elalamy.
MENAFN1903201700450000ID1095327130
MENAFN1903201700450000ID1095327130
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