Moroccan insurance market: H1 2020 results

statisticsAccording to data published by the Supervisory Authority of Insurance and Social Welfare (ACAPS), the Moroccan market recorded a 4.6% turnover increase in H1 2020. The premiums recorded went from 26.113 billion MAD (2.71 billion USD) in H1 2019 to 27.326 billion MAD (2.78 billion USD) one year later. These figures include direct insurance premiums and reinsurance acceptances.

As of 30 June 2020, the direct market totaled a turnover of 25.064 billion MAD (2.55 billion USD) against 24.687 billion MAD (2.56 billion USD) in 2019, thus increasing by 1.5%. With 52.3% market share, the non-life premiums increased by 0.4% to reach 14.295 billion MAD (1.45 billion USD). The P&C class of business is driven by the motor activity 6.553 billion MAD (668.2 million USD) of premium income.

The life and capitalization underwritings grew by 3.1% to reach 10.769 billion MAD (1.09 billion MAD) as of 30 June 2020. Both activities represent 39.4% of the market total written premiums. The reinsurance acceptances increased by 58.8% to be set at 2.262 billion MAD (230.65 million USD) : That is 8.3% of the total premium income, compared to 1.425 billion MAD (148.16 million USD) in late June 2019.

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