The 2009 market results

Within a framework of international crisis, the Moroccan insurance market is having a break. With a 6% growth, the written premiums volume has grown from 19.745 billion MAD (2.482 billion USD) in 2008 to 20.939 billion MAD (2.673 billion USD) in 2009. Non life insurance, which rose by 8.3% in comparison with 2008, continues to dominate the market with premiums worth 14.220 billion MAD (1.815 billion USD), that is, 68.3% of the overall collections. A clear slowdown in the collection of life insurance premiums has been noticed. This class of business reported just 1.6% growth in 2009 whereas for the previous years it achieved a two-digit development. The market remains under the domination of four companies: Wafa Assurance (20.5% of the market shares), RMA Watanya (20.1%), Axa Assurance (14.6%) and Cnia Saada Assurance (13.5%). These companies, alone, are holding 68.7% of the market shares. The other twelve companies share the remaining 31.3%.