Wafa Assurance, MAMDA and AtlantaSanad Assurance Granted Approval to Carry out Takaful Activities in Morocco

On the 10th of December 2021, the Supervisory Authority of Insurance and Social Welfare (ACAPS) in Morocco granted approval to Wafa Assurance, Moroccan Agricultural Mutual Insurance Company (MAMDA) and AtlantaSanad Assurance to carry out Takaful activities in the country.

Why it Matters?

The Takaful subsidiaries of the three insurers are as follows: Wafa Takaful, Attakafulia Assurances and Taaouiniyate Taamine Takafuli. Marocaine Vie and AXA Assurance Maroc are two more companies in the running for future licences.

Details

This was the 22nd board meeting of ACAPS, which also covered its accomplishments, the adoption of the 2022 budget and the study on the sizing of the ACAPS. The council also accepted a revision to...