RABAT, March 17 Morocco's Saham Assurance
on Friday reported a 17.2 percent fall in 2016 net
profit to 282 million dirhams ($28.2 million), the insurance
company said in a statement.
Net profit was hurt by an exceptional tax charge of 130
million dirhams stemming from a 2012-2015 tax audit, it said.
Revenue rose 16.4 percent to 4.39 billion dirhams including
a 113 percent jump in life insurance revenue to 774 million
Non-life insurance revenue rose 6.1 percent to 3.6 billion
dirhams, it said.
Saham Assurance is part of Groupe Saham, founded in 1995 by
Moroccan tycoon and current trade and industry minister Moulay
(Reporting by Samia Errazzouki; editing by Aidan Lewis and