Wafa Assurance Balance Sheet

Financials in millions MAD. Fiscal year is January - December.

Millions MAD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Investments in Debt Securities	32,140	29,611	-	-	-
Investments in Equity & Preferred Securities	28,221	22,945	-	-	-
Other Investments	5,676	4,870	51,691	47,046	49,186
Total Investments	66,833	58,252	52,904	48,246	50,110
Cash & Equivalents	1,211	1,037	1,019	958.12	528.82
Reinsurance Recoverable	905.91	1,413	2,645	2,309	2,345
Other Receivables	2,762	2,367	6,598	6,327	4,912
Separate Account Assets	2,284	1,581	1,132	1,240	1,362
Property, Plant & Equipment	743.99	243.76	243.86	167.03	175.7
Goodwill	372.3	4.66	4.66	4.66	4.66
Other Intangible Assets	317.16	150.76	135.75	127.16	118.11
Long-Term Deferred Tax Assets	105.56	112.87	30.34	45.08	14.33
Other Long-Term Assets	-	-	2.86	4.9	4.66
Total Assets	75,534	65,162	64,715	59,428	59,575
Insurance & Annuity Liabilities	50,671	45,686	36,710	33,459	33,008
Unpaid Claims	-	-	10,822	10,700	10,430
Unearned Premiums	-	-	1,132	1,103	1,019
Reinsurance Payable	-	-	1,869	1,640	1,579
Current Income Taxes Payable	1,169	722.51	761.8	786.84	624.7
Long-Term Debt	191.14	110.82	521.6	187.56	608.29
Long-Term Deferred Tax Liabilities	4,632	3,406	1,216	675.31	1,325
Separate Account Liability	2,284	1,581	-	-	-
Other Long-Term Liabilities	1,356	876.32	2,174	2,559	1,562
Total Liabilities	60,303	52,384	55,206	51,110	50,156
Common Stock	350	350	350	350	350
Retained Earnings	9,906	9,284	6,625	6,379	6,037
Comprehensive Income & Other	4,705	2,932	2,257	1,328	2,808
Total Common Equity	14,960	12,567	9,233	8,057	9,195
Minority Interest	270.73	211.73	276.59	260.87	223.99
Shareholders' Equity	15,231	12,779	9,509	8,317	9,419
Total Liabilities & Equity	75,534	65,162	64,715	59,428	59,575
Filing Date Shares Outstanding	3.51	3.49	3.48	3.49	3.5
Total Common Shares Outstanding	3.51	3.49	3.48	3.49	3.5
Total Debt	191.14	110.82	521.6	187.56	608.29
Net Cash (Debt)	1,020	925.77	497.26	770.56	-79.46
Net Cash Growth	10.13%	86.18%	-35.47%	-	-
Net Cash Per Share	291.15	264.75	142.39	220.42	-22.67
Book Value Per Share	4265.50	3605.05	2653.27	2310.19	2628.26
Tangible Book Value	14,271	12,411	9,092	7,925	9,072
Tangible Book Value Per Share	4068.92	3560.47	2612.92	2272.39	2593.17

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.