Moroccan insurance sector turnover up 9.5 percent in 1998

Morocco's insurance firm sales rose by 9.5% to 8.6 billion dirhams (around $886 million) in 1998 compared with 1997, Moroccan business daily "L'Economiste" reported.

Leader "Al Wataniya" insurance firm sales rose by 8.19% to 1.16 billion dirhams (about $119 million) in 1998, with a 13.3% share of total market sales, the newspaper said.

Wafa Assurances (WASS.CS) came in the 2nd place in the Moroccan market with 12.6 % share valued more than one billion dirhams ($ 103 Mln) turnover in 1998.

Compagnie Africaine d'Assurance (CAA) ranked 3rd detaining 11 % stake, followed by Al Amane AXA with 10 %, CNIA insurance 9.3 % and La Royale Marocaine d'Assurances (RMA) 8.0 %.