Results 2018 of the Moroccan insurance market

According to the Moroccan federation of insurance and reinsurance companies (FMSAR), the turnover of the Moroccan insurance market amounted to 41.345 billion MAD (4.323 billion USD) in 2018, against 38.966 billion MAD (4.149 billion USD) in 2017, an increase of 6.1%. This performance follows three years of a two-digit market evolution.

Non-life insurance reported 23.155 billion MAD (2.421 billion USD) in written premiums with an annual growth of 5.3%. This performance is higher than that of 2017 set at 4.7%. Non-life insurance accounted for 56% of the market.

As for life and capitalization activity, it recorded 18.19 billion MAD (1.901 billion USD) in premiums, up by 7.1% compared to 2017. This growth rate is in sharp decline compared to the 35.4% achieved between 2016 and 2017.

The ranking of companies remains unchanged. Wafa Assurance still at the top with a turnover of 8.371 billion MAD (875 million USD) and a market share of 20%. The Royale Marocaine d’Assurance comes second with a turnover worth 6.543 billion MAD (684 million USD) and a market share of 15.8%. Saham Assurance ranks third with 5.223 billion MAD (546 million USD) in premiums and a market share of 12.6%.

It should be noted that these three companies alone account for almost half of the market premiums (48.4%).