Wafa Takaful, a subsidiary of the Wafa Assurance group, has been approved by the Insurance and Social Security Supervisory Authority (ACAPS) to carry out so-called “takaful family”, “takaful investment” and “takaful general” insurance operations. .
Let’s go for the participative insurance branch of Wafa Assurance. Indeed, Wafa Takaful, a 100% subsidiary of the group, has received the green light from the Insurance and Social Welfare Supervisory Authority (ACAPS) for the start of its activity. “Wafa Takaful was designed and sized to be a multi-distributor operator serving participatory banks operating in Morocco and, more generally, serving customers and policyholders wishing to take out insurance in accordance with the opinions of the Superior Council of Ulemas”, explains the operator, in this sense.
Thus, the participatory subsidiary of Wafa Assurance displays its commitment to the service of participatory finance and the financial inclusion that it underpins, and affirms that this commitment “will be made under the Wafa brand, thus displaying its backing to the leader of insurance in Morocco and by providing all the guarantees of professionalism, expertise and quality of service”, says Wafa Takaful. More broadly, this new subsidiary also reflects the historical positioning of the Attijariwafa Bank group (parent company) as a universal financial player supporting economic players and households in their daily lives and at key moments, particularly in the field of participatory banking, through Bank Assafa. In detail, Wafa Takaful is positioned, for its start-up, on a range of three products, namely family protection through death cover, multi-risk cover for the property financed, as well as the constitution of long-term savings. to benefit from additional income upon retirement.
“This range will be expanded and enriched to meet the expectations of policyholders and partners,” says the operator.
This new subsidiary dedicated to takaful insurance operations also consolidates Wafa Assurance’s status as a universal insurer. From now on, the national insurer operates in nine markets: commercial insurance, life insurance for individuals, non-life insurance for individuals, individual health, inclusive insurance, assistance, digital, international and, now, takaful insurance. Recall, in this wake, that ACAPS has issued, to date, five approvals to practice Takaful insurance operations. In addition to Wafa Takaful, we can cite Marocaine Vie, a member of the Société Générale Maroc group, which obtained authorization from ACAPS for the creation of a Takaful subsidiary and the Société centrale de réassurance (SCR) which obtained the approval of the Regulatory Authority for the creation of a Takaful window. In addition, there are licenses issued to Attakafulia Assurances (subsidiary of MAMDA/MCMA) and Taaouiniyate Taamine Takafuli (subsidiary of AtlantaSanad).
Sanae Raqui / ECO Inspirations
