Moroccan insurance broker AFMA closed the 2025 fiscal year with a performance marked by an 11% increase in its consolidated revenue. This stands at 317 million dirhams (MDH), compared to 286 MDH in 2024.
The parent company, AFMA SA, also recorded positive momentum. Its social revenue stands at 264 MDH, up 10% from the 241 MDH achieved a year earlier. The group attributes this favorable evolution to its commercial strategy based on both acquiring new clients and developing its existing portfolio.
AFMA intensified its investments in 2025. The total amount committed, including financial interests, reached 26 MDH, compared to 16 MDH in 2024, reflecting a commitment to consolidation and expansion.
On the financial front, consolidated net debt improved, standing at 7 MDH at the end of December 2025, compared to 11 MDH a year earlier.
Capital control reinforcement
AFMA also increased its stake in the SAFE ASSUR firm, raising its ownership from 51% to 100%.
Entities in which the group exercises exclusive, direct or indirect control are consolidated using the method of full integration, in accordance with current standards.
With these results, AFMA confirms the strength of its model and its ability to maintain a growth trajectory in the Moroccan insurance brokerage market.
