The bancassurance market on the rise

According to a study by the Direction des Assurances et de Prévoyance Sociale (DAPS), bancassurance achieved a growth of 8.21% in 2011 at 4 893.40 million MAD (571millions USD). With a premium income of 4 473.17 million MAD (522 million USD), the life and capitalization class of business has contributed a great deal to this increase. Underwritings made in other classes of business pertain to assistance, health, bodily injury and credit insurance.
Premiums collected by banks in 2011 account for 43.6% of the total market, compared to 44.8% a year earlier. Banks like Attijariwafa Bank, BMCE Bank and Banque Populaire largely dominate this segment mobilizing 83.93% of their income with respectively 40.89%, 25.69% and 17.35% of market shares.