Wafa Assurance has signed an agreement with SAHAM Group to acquire a 99.98% stake in La Marocaine Vie, according to a statement by the company on Wednesday. The financial amount was not disclosed in the sources.
The agreement also includes a long-term bancassurance partnership between Wafa Assurance and Saham Bank, allowing the bank to continue distributing insurance products through its branch network.
Wafa Assurance said the transaction would not affect existing insurance contracts, guarantees, or customer conditions. Policyholders will retain their usual contacts and will not be required to take any action.
La Marocaine Vie has operated in Morocco since 1978 and recorded MAD 2.5 billion ($253.96 million) in gross written premiums in 2025.