Moroccan insurance market: turnover as of 31 March 2022

The Supervisory Authority for Insurance and Social Welfare (ACAPS) reported that the turnover of the Moroccan insurance market reached 15.3 billion MAD (1.56 billion USD) in the first quarter of 2022.

The premiums grew by 4% compared to 14.7 billion MAD (1.6 billion USD) recorded during the same period of 2021.

Accounting for 66.7%, non-life premiums increased by 5.5% to reach 10.2 billion MAD (1.04 billion USD) as of 31 March 2022. This activity is dominated by motor insurance with premium collections of 4.7 billion MAD (481.28 million USD), that is 30% of the total written premiums in Morocco as at the end of March 2022.

During the period under review, life insurance underwritings amounted to 5.1 billion MAD (522.24 million USD), a slight growth of 1% over a year. The life activity has represented 33.3% of the total written premiums during the first three months of the current year.