Moroccan insurance market: first-half 2019 results

The Moroccan insurance market reported a turnover of 24.76 billion MAD (2.575 billion USD) by 30 June 2019, an increase of 8.2% compared to the first half of 2018. This growth was mainly due to the improvement in life and capitalization underwriting. This class of business accounted for 42.2% of the market premiums and rose by 9.87% at 10.45 billion MAD (1.086 billion USD) in the first six months of 2019.

With premiums worth 14.31 billion MAD (1.488 billion USD), non-life insurance grew by 7% with motor business driving the non-life activity. Motor premiums amounted to 6.78 billion MAD (705 million USD), that is an increase of 7.9% compared to the same period last year.

The market was still dominated by three major companies. Wafa Assurance, a subsidiary of the Attijariwafa bank group, reported 4.65 billion MAD (483.5 million USD) in premiums, or an 18.8% market share. It was followed by the Royale Marocaine d’Assurance (RMA) with 3.61 billion MAD (375.36 million USD) and Saham Assurance with 3.07 billion MAD (319 million USD).