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Morocco: the growing insurance sector

Despite a difficult coronavirus context, the Moroccan insurance and reinsurance market has performed well in the first eight months of this year. With the main indicators in the green, according to the results recently published by the Insurance and Social Security Control Authority (ACAPS).

Thus, the premiums issued by insurance and reinsurance companies reached nearly 36.4 billion dirhams (4 billion USD) during the period considered, up 13% compared to the end of August 2020. For its part , the “non-life” branch grew by 6.9%, while the “life” branch grew by 21.3%.

In the “Life” branch, the “Dirham savings”, “death” and “Unit-linked savings” segments posted increases of 21%, 11.9% and 44.7% respectively.

According to ACAPS figures, the “Acceptances” segment has fallen by 80.8% while transport premiums have increased by 9.9% to 534.7 million dirhams (59 million USD).

In addition, premiums for bodily accidents increased by 7.5%, standing at over 3.3 billion dirhams (364 million USD) at the end of August. As regards the premiums issued within the framework of the “Fire” insurance, they amounted to 1.53 billion dirhams (169 million USD) (-8.7%).

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