The Moroccan insurance market
Profile
| Population: 36 910 558 inhabitants |  |
| GDP: 112.9 billion USD | |
| GDP per capita: 3 009 USD | |
| GDP growth rate: -7.1% | |
| Inflation rate: 0.7% |
Data as of 12/31/2020, Source: World Bank
Moroccan insurance market: main indicators
| 2020 | |
Turnover | 45.297 billion DZD (5.029 billion USD) |
Penetration rate | 4.45% |
Insurance density | 1 227 MAD (136.22 USD) |
Structure of the Moroccan insurance market
| Insurance and reinsurance companies | |
Composite companies | 7 |
Non-life companies | 3 |
Life companies | 2 |
Specialized companies | 8 |
Reinsurer | 2 |
| Total | 22 |
| Intermediaries | |
Insurance agents | 1 661 |
Brokers | 462 |
| Total | 2 123 |
| Regulatory authority | |
Supervisory Authority of Insurance and Social Welfare (ACAPS) | www.acaps.ma |
| Professional institution | |
Moroccan federation of insurance and reinsurance companies | https://www.fmsar.org.ma/en/ |
Data as of 12/31/2019, Source: World Bank
Read also | Moroccan insurance market: turnover 2021
Moroccan insurance market: evolution of premiums per class of business
Figures in thousands of USD| Class of business | 2016 | 2017 | 2018 | 2019 | 2020 |
Non-life | 2 067 000 | 2 356 197 | 2 421 139 | 2 518 508 | 2 764 509 |
Life | 1 420 000 | 1 820 634 | 1 901 915 | 2 109 092 | 2 264 353 |
| Total | 3 487 000 | 4 176 831 | 4 323 054 | 4 627 600 | 5 028 862 |
Exchange rate as at 31/12/2016 : 1 MAD = 0.09932 USD ; at 31/12/2017 : 1 MAD = 0.10719 USD ; at 31/12/2018 : MAD = 0.10456 USD ; at 31/12/2019 1 MAD = 0.10306 USD ; at 31/12/2020 : 1 MAD = 0.11102 USD
Read also | Ranking of Moroccan insurers
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