Moroccan insurance market in 2023
Figures in thousands
Class of business | 2023 Turnover | 2022 Turnover | 2022-2023 evolution (1) | 2023 shares | ||
---|---|---|---|---|---|---|
MAD | USD | MAD | USD | |||
Motor | 14 554 000 | 1 446 522 | 13 726 700 | 1 294 153 | 6.03% | 25.53% |
Bodily injury and health | 5 432 000 | 539 886 | 5 045 900 | 475 727 | 7.65% | 9.53% |
Workmen's compensation | 2 578 000 | 256 227 | 2 495 000 | 235 229 | 3.33% | 4.52% |
Fire | 2 284 000 | 227 007 | 2 094 500 | 197 469 | 9.05% | 4.00% |
Assistance. credit. bond | 1 807 000 | 179 598 | 1 671 000 | 157 542 | 8.14% | 3.17% |
Marine | 849 000 | 84 382 | 883 600 | 83 306 | -3.92% | 1.49% |
General third party liability | 758 000 | 75 338 | 703 400 | 66 317 | 7.76% | 1.33% |
Natural disasters | 569 000 | 56 553 | 560 800 | 52 872 | 1.46% | 1.00% |
Technical risks | 435 000 | 43 235 | 284 400 | 26 813 | 52.95% | 0.76% |
Other non-life operations | 1 093 000 | 108 633 | 949 900 | 89 557 | 15.06% | 1.92% |
Non-life acceptances | 728 000 | 72 356 | 686 000 | 64 676 | 6.12% | 1.28% |
Total non-life | 31 087 000 | 3 089 737 | 29 101 200 | 2 743 661 | 6.82% | 54.53% |
Total life | 25 918 000 | 2 575 990 | 25 394 800 | 2 394 222 | 2.06% | 45.47% |
Grand total | 57 005 000 | 5 665 727 | 54 496 000 | 5 137 883 | 4.60% | 100% |
(1) Growth rate in local currency
Exchange rate as at 12/31/2023: 1 MAD = 0.09939 USD; as at 12/31/2022: 1 MAD = 0.09428 USD
Read also | Insurance companies in Morocco
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