Wafa Insurance is dealing with a highly competitive sector full of potential. It has succeeded in competing with the biggest companies in the sector, as it even reached first place among insurance companies in 1999.
Wafa's performance is in large a result of the widening of its network, the development of its bank and car insurance activities, and due to the realization of strategic partnership with Barid Al-Maghrib, Royal&Sun Alliance and Allianz group.
However, the market's sluggish activity has led to a fall in the company's share price ever since the second quarter of this year.
Despite the price drop, Safa Bourse recommends Wafa Insurance as a long run investment, due to its solid fundamentals, high expansion potential and growth opportunities, and notable market position. – (Albawaba-MEBG)
© 2000 Mena Report (www.menareport.com)
