For the 11th consecutive year, FINACTU carries out the actuarial certification of the technical provisions of a Moroccan insurance leader

Tunisia Tribune (FINACTU) – The FINACTU Group is entrusted, for the 11th consecutive year, with the actuarial assessment and certification of the technical commitments of the Moroccan Agricultural Insurance Mutual Society (MAMDA), the Moroccan Central Insurance Mutual Society (MCMA), and the Ataamine Mutual Society. Chaabi (MAC).

Since 2011, FINACTU has conducted this annual comprehensive audit of the technical commitments of the three mutual societies, and produced an actuarial certification of the provisions on the balance sheet.

The constitutive techniques have the effect of having a major position of the insurance companies. In all companies, their valuation is at the heart of the assessment of creditworthiness: given their importance, even a small error in their valuation can substantially change one’s assessment of creditworthiness.

Traditionally, the mission of the FINACTU conducte pour les mutuelles group consists of several phases:

  • after a classic stage of collecting and validating data techniques (production, claims, mathematical arrangements, etc.), the Group’s actuaries proceed to a precise statistical analysis of the main disposal items, and in particular: claims provisions, mathematical provisions, premium provisions;
  • FINACTU’s teams also conduct a qualitative review of all provisioning processes during shutdowns, from information systems extraction to accounting consolidation, to computational steps and audit procedures;
  • Finally, FINACTU’s actuaries assess the bonuses issued for each year and challenge regulatory provisions by assessing commitments using various actuarial methods in order to assess the prudence of the mutual fund’s provisioning policy and its evolution over time.

As Denis CHEMILLIER-GENDREAU, Founding President of the FINACTU Group, explains, “With its exemplary success, the MAMDA-MCMA-MAC Group confirms the value of having a company dedicated to agricultural insurance in a country on the continent. While a leading Moroccan insurance leader, a leading investor in the Kingdom of finance and a company with outstanding creditworthiness, the MAMDA Group has managed to make Morocco one of the leaders in agricultural insurance in Africa. offering millions of farmers the resilience that other countries envy. The Group has also taken voluntary measures in support of farmers for the 2021/2022 season, especially the drought-stricken, by accelerating expertise and compensation and providing payment facilities to farmers, thus marking its commitment. and its leading role in the Moroccan agricultural sector ”.

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