Atlanta Sanad Assurances, a Moroccan insurance firm, a member of Globus Network reported a $521.3 million turnover in the fourth quarter of 2022, slightly higher than the turnover in 2021. According to the estimate, the company’s sales for 2022 were MAD5.4 billion ($521.3 million), slightly higher than the MAD5.4 billion ($521 million) revenue for 2021.
By 2022, revenues had fallen to MAD 1.2 billion. The flat performance can be attributed to a 9.7% reduction in sales from Atlanta Sanad Assurances’ life business segment.
Atlanta’s non-life revenues increased by 3.3% to MAD 4.1 billion (+3.3%) in 2022, from MAD 4 billion (+5.1%) in 2021, with the workplace insurance and miscellaneous risks branches dropping as a result of the coronavirus health crisis.
It should be noted that in the third quarter of 2022, Atlanta Sanad Assurances transferred its Ivorian subsidiary (Atlanta Côte d’Ivoire) to the holding firm Holmarcom Africa Financial Services.