Wafa Assurance

Wafa Assurance

Traded as	CSE: WAA
Industry	Insurance
Headquarters	Casablanca , Morocco
Key people	Boubker Jaï (Chairman and CEO) [1] Badreddine Belghiti (Deputy Managing director)
Total assets	Market Cap: MAD 17,507 million (2025) [1]
Parent	Attijariwafa Bank
Website	www.wafaassurance.ma

Wafa Assurance is the insurance subsidiary of Attijariwafa Bank, a Moroccan bank that is part of Al Mada holding.

History

The company was founded in 1972, under the name Société Nouvelle d’Assurances (SNA). A few months after its establishment, the company took over the portfolios of the local operations of two insurance companies, Saint Paul Fire and Norwich Union.

In 1989, Société Nouvelle d’Assurances changed its name to Wafa Assurance, reflecting its integration into Wafabank. ^[2]

In 2003, following the merger between Banque Commerciale du Maroc and the Wafabank, Wafa Assurance became the insurance subsidiary of Attijariwafa bank. ^[3]

In 2011, Wafa Assurance launched its assistance subsidiary, Wafa IMA Assistance, in partnership with the Inter Mutuelles Assistance. ^{[4] [5] [6]}

In May 2023, the board of directors appointed Boubker Jai, former Chief Executive Officer of Attijariwafa Bank, as Chief Executive Officer of Wafa Assurance. ^{[7] [8] [9]}

In 2025, Wafa Assurance acquired a 63.4% stake in Delta Insurance, a publicly listed insurance company based in Egypt. ^{[10] [11]}

In 2026, Wafa Assurance acquired part of the assets of Allianz Maroc. ^{[12] [13]}

Subsidiaries

Ivory Coast

In February 2016, Wafa Assurance received regulatory approval to operate in Ivory Coast. In November of the same year, the company officially launched two subsidiaries: Wafa Assurance Vie Côte d’Ivoire and Wafa Assurance Côte d’Ivoire. ^{[14] [15] [16] [17]}

Cameroon

On 8 July 2015, Wafa Assurance obtained regulatory approval for its subsidiary Wafa Assurance Vie Cameroun. ^{[18] [19] [20] [21]}

Senegal

Wafa Assurance operates in Senegal through its subsidiaries Wafa Assurance Vie Sénégal and Wafa Assurance Sénégal. ^{[22] [23] [24]}

Tunisia

Wafa Assurance has been present in Tunisia since 2012. ^{[25] [26] [27]} It launched a subsidiary under the name Attijari Assurance. ^{[28] [29]}

Key people

• Boubker Jaï, Chairman of the Board and Chief Executive Officer, Member of the Executive Committee ^[1]
• Badreddine Belghiti, Deputy Managing director
• Yasmine Aboudrar, Administrator - Representative of OGM
• Rachida Benabdellah, Administrator
• Hassan Bertal, Administrator
• Ahmed Ismail Douiri, Administrator
• Gilles Dupin, Administrator
• Mohammed El Kettani, Administrator
• Marie-Laure Mazaud, Administrator
• Magali Noe, Administrator
• Hassan Ouriagli, Administrator
• Aymane Taud, Administrator
• Abdelmjid Tazlaoui, Administrator

Ownership

• OGM (Owned by Attijariwafa Bank) 79.29% ^{[30] [31]}
• Others 20.71%

References

1. "Wafa Assurance SA (WAA.CS)". Reuters. Retrieved 13 June 2025.
2. "Wafa Assurance". www.atlas-mag.net (in French). Retrieved 2026-01-13.
3. "Qui est Boubker Jai, le nouveau PDG du marocain Wafa Assurance". JeuneAfrique.com (in French). Retrieved 2026-01-13.
4. "Wafa Assurance/Inter Mutuelles Assistance : Un partenariat win-win". http://fnh.ma (in French). Retrieved 2026-01-13.{{cite web}}: External link in |website= (help)
5. "Wafa Assurance s'investit dans l'assurance assistance". www.atlas-mag.net (in French). Retrieved 2026-01-13.
6. "Wafa Assurance et le Groupe IMA s'accordent sur une société d'assistance commune". www.atlas-mag.net (in French). Retrieved 2026-01-13.
7. Leboursier, Rédaction (2023-05-17). "Boubker Jaï succède à Ramsès Arroub à la tête de Wafa Assurance". Médias24 - Numéro un de l'information économique marocaine (in French). Retrieved 2026-01-13.
8. Jérémie, David (2023-05-17). "Nomination. Boubker Jaï, nouveau PDG de Wafa Assurance". Challenge.ma (in French). Retrieved 2026-01-13.
9. Rédaction, La. "Wafa Assurance : Boubker Jaï succède à Mohammed Ramses Arroub à la tête de la compagnie". Telquel.ma (in French). Retrieved 2026-01-13.
10. "Wafa Assurance acquires 63.39% stake in Delta Insurance". www.atlas-mag.net. Retrieved 2026-01-14.
11. "Wafa Assurance prend le contrôle de l'égyptien Delta Insurance pour 67 millions de dollars". Le 360 Français (in French). Retrieved 2026-01-14.
12. Kaiss, Nawfal (2025-10-10). "Le rachat d'actifs d'Allianz Maroc par Wafa Assurance arrive au Conseil de la concurrence". Médias24 - Numéro un de l'information économique marocaine (in French). Retrieved 2026-01-14.
13. LesEco.ma (2026-01-13). "Assurance non-vie : Wafa Assurance reprend une partie des actifs d'Allianz". LesEco.ma (in French). Retrieved 2026-01-14.
14. admin (2016-02-11). "Wafa Assurance s'implante en Côte d'Ivoire". Médias24 - Numéro un de l'information économique marocaine (in French). Retrieved 2026-01-13.
15. Chambost, Pauline. "Wafa Assurance débarque en Côte d'Ivoire". Telquel.ma (in French). Retrieved 2026-01-13.
16. LesEco.ma (2016-02-11). "Wafa Assurance s'étend en Côte d'Ivoire". LesEco.ma (in French). Retrieved 2026-01-13.
17. "Wafa Assurance lance ses activités en Côte d'Ivoire". L'Economiste (in French). 2016-11-23. Archived from the original on 2016-11-24. Retrieved 2026-01-13.
18. "Wafa Vie Cameroun obtient son agrément". JeuneAfrique.com (in French). Retrieved 2026-01-13.
19. "Maroc: Wafa Assurances arrive au Cameroun". www.atlas-mag.net (in French). Retrieved 2026-01-13.
20. MATIN, LE (2015-07-14). "Wafa Assurance accélère son développement en Afrique". Le Matin.ma (in French). Retrieved 2026-01-13.
21. Ecofin, Agence. "Wafa Assurance Vie Cameroun obtient son agrément". Agence Ecofin (in French). Retrieved 2026-01-13.
22. "Après le Cameroun, Wafa Assurance lance une filiale au Sénégal". JeuneAfrique.com (in French). Retrieved 2026-01-13.
23. MATIN, LE (2014-09-25). "Wafa Assurance crée deux filiales au Sénégal". Le Matin.ma (in French). Retrieved 2026-01-13.
24. admin (2014-09-26). "Wafa Assurance s'implante au Sénégal". Médias24 - Numéro un de l'information économique marocaine (in French). Retrieved 2026-01-13.
25. "Wafa Assurance s'implante en Tunisie". JeuneAfrique.com (in French). Retrieved 2026-01-13.
26. Mouden, Wadie El. "Assurances. Wafa met le cap sur la Tunisie". Telquel.ma (in French). Retrieved 2026-01-13.
27. "Wafa Assurance s'implante en Tunisie". www.atlas-mag.net (in French). Retrieved 2026-01-13.
28. SitePoint. "Radware Page". radware.com. Retrieved 2026-01-13.
29. "Wafa Assurance Nouvelle compagnie d'assurance en Tunisie". http://fnh.ma (in French). Retrieved 2026-01-13.{{cite web}}: External link in |website= (help)
30. "WAFA ASSURANCE". Casablanca Stock Exchange. Retrieved 13 June 2025.
31. Attijariwafa Bank - CP relatif à la formation d’une alliance à parts égales avec SNI dans le capital de Wafa Assurance à partir de 2017. Attijariwafa bank. Retrieved 24 October 2023. Archived from the original on 24 October 2023