Bancassurance is spreading in Morocco

According to a survey carried out by the ministry of finance and privatization, the involvement of Moroccan banks in the insurance sector is getting more and more significant: Attijariwafa bank and BMCE bank intervene respectively by up to 81.3% and 78.7% in the turnover of Wafa Assurance and RMA Watanya. The contribution of the Société Générale Marocaine de banque in the life premiums' collection and the capitalization of the Marocaine Vie amount to 79.7% of the overall underwritings.

Between 2006 and 2007, bancassurance operations have posted a growth rate of 42.8%. A growth which is accounted for in 2007 by the rise of underwriting at the banks' counters and by the contribution of the brokerage firms affiliated to banks.

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