A.M. Best: Insurance prospects and challenges in the Maghreb countries

A.M. Best has published a report entitled "Maghreb: One Region, Three Unique Insurance Markets". The study outlines the long-term prospects of insurance in Morocco, Algeria and Tunisia.

The rating agency stated that despite the significant economic and demographic differences, the insurance markets of the central Maghreb countries have recorded a strong growth over the last five years.

Such growth rates are believed to remain unaffected by the challenging environment, aggravated by the coronavirus pandemic. However, the development potential is likely to be impacted by:

• Political and economic pressures
• The local population’s negative perception of insurance
• The evolving nature of regulatory and governance frameworks
• The impact of the health crisis on the financial markets and economies around the world.