largeand the drying section is not resilient to face sanitation. However, profitability is affected by the derailment of the stock exchange. Even if the technical result is tense and, against all odds, the vapor addressed to the sector is not jammed as well as ported during the pandemic. Two or more seconds, the economic context is newly defined with an economic crisis that profiles the effect of inflation and voltages on the appropriation chains.
In Morocco, the Sector wants to face a lack of regulatory control, such as Khadija El Moussily, senior analyst at BMCE Capital Global Research, on the occasion of a webinar organized by the Association Association and the Casabian Stock Exchange . Definitely, this is the famous Solvency Based Risk (SBR) project, ξάδερφος proche of Solvency II in Europe. In a progressive implementation with every year, it projects aura of their impacts on the sector.
“SBR is traded by more funds in particular funds, a reservation of solvency margins and an acceleration of ratios and fusions in the sector”, said El Moussily, all in the most precise way point: bouzé. «The reform provides a prize on the set of auxiliary risks which are exposed to the insurers in the calculation of the margin of solvency, which devaluates a substantial manner of the margins of excellence», διαβεβαιώ τη la professionnelle. However, Moroccan companies are designed to absorb these shocks, otherwise the different stress tests are performed.
Impacts of AMO on the profitability of the sector
According to Khadija El Moussily, mandatory malnutrition insurance (AMO) has an impact also on the number of benefits on the benefits of the sector. The negative impact on the number of companies in the measurement or the primary malpractice rates is diminished by the effect of migrating clients to the public sector. In revenge, AMO pushes to avoid a positive effect on the benefits of companies in the measurement of these derivatives due to the addition of supplements made with their assurances, which is more productive.
Takaful: A 100 MDH Prime Additnel in 2022
Operating in 2022, Takaful devrait generates additional premiums of 100 MDH this year. By all means, this activity is due to the profitability of the sector and potentially produces a cannibalization of conventional products without the Takaful greenhouse being further diversified, according to the BKGR analysis.
BKGR positive on the sector in the Stock Exchange
Represented on the Stock Exchange by 3 companies, the sector of the confederation of analysts of the search office. Assisting Wafa Assurance, Sector Leader, Khadija El Moussily believes that the company has a manageable margin of solvency and a capacity to be used to maintain its leader status in a context marked by. In addition, the company has an ambitious strategy of expansion in Africa, except that regulatory contraindications can power this strategy. Wafa Assurance also worked on diversifying its placements and reducing its significant exposure to actions (28% in 2021). The company realized a TCAM of 6% of its figure in 2021 and 2022 and 9% for its net result. Η Saham Assurance is also located in the small papers of the analysis, which means that the company has a dynamic trading volume, with the notation of the release of the output products in units of this number. On a more strategic plan, the Sanlam / Alliance in Africa approach takes into account economies of scale and introduces new products. This digit, a TCAM of 5% of the output digit in 2021- 2023 and 9% for RN is anticipated.
AtlantaSanad: “I’s lacquered valence enumerated enormously on the fundamental plane”
The dynamic trade of the company and its good financial growth accentuated in crop. The placement portfolio is rentable, with notation of values such as CIH Bank, Oulmès and BMCI, for interesting returns. On the strategic side, the prize of participation with 12.8% of the capital of CDM leads to its rapid development, especially in the activity Vie, which remains a very profitable activity in relation to non-Vie activity. Restore whether to advise exclusive distribution contract in bancassurance between CDM and Saham Assurance and not to arrive at term until 2026. Sera-t-il revoked either this year or last term; In terms of revisions, the TCAM of the cut-off figures at a rate of 6.5% over the period 2021-2022, as well as the RNPG output increased at a rate of 21% over the period.
The financial result of the real estate sector continued on its hauer trend
The volatility of the financier march this year does not return to the haussier trend of the financial results of the companies, including Khadija El Moussily. Therefore, even if there is a difference in realizing the variations on the margins in the current context, the progression of the financial results is mainly due to the amelioration of dividends distributed by the companies in 202 pairs of companies. Housing of 30% relative to the bottom line and which limits the impact of the course of the course.