Wafa Assurance acquires La Marocaine Vie from Saham Group
The deal includes a long-term bancassurance partnership allowing Saham Bank to continue offering insurance products through its network.
Wafa Assurance has signed an agreement to acquire 99.98% of the capital of La Marocaine Vie from the Saham Group. This transaction aims to strengthen Wafa Assurance's position in life insurance, savings, and retirement services within the Moroccan market.
In 2025, Wafa Assurance reported 15.2 billion dirhams in gross consolidated premiums, while La Marocaine Vie recorded 2.5 billion dirhams. Saham Bank, which acquired its stake in La Marocaine Vie following the purchase of Société Générale Marocaine de Banques in December 2024, will now focus on its core banking operations.
The agreement includes a long-term commercial partnership between Wafa Assurance and Saham Bank. This arrangement ensures that Saham Bank clients can continue to access insurance solutions through their existing bank branches while the two companies develop new joint offerings.
Why it mattersThe acquisition and new bancassurance partnership will change how Saham Bank clients access insurance products and how the two insurers operate in the market.