The Moroccan Insurance Market in 2019

Tour Hassen RabatThe Supervisory Authority of Insurance and Social Welfare (ACAPS) published the 2019 report on the Moroccan insurance market.

The direct market (written premiums excluding reinsurance acceptances) totalled a turnover of 44.7 billion MAD (4.6 billion USD) against 41.151 billion MAD (4.3 billion USD) a year earlier, thus, realizing an 8.6%. increase.

With 54.2% market share, the non-life premiums increased by 5.5%, set at 24.2 billion MAD (2.4 billion USD). The P&C activity is driven by the motor one with 12 billion MAD (1.2 billion USD) of premium income.

The life and capitalization activity recorded a 12.5% increase over one year. The class of business represents 45.8% of total turnover. It generated 20.5 billion MAD (2.1 billion USD) of written premiums by late 2019.

Reinsurance acceptances increased by 5.5% and were established at 2 billion MAD (206.1 million USD).

Read also | The Moroccan insurance market avoids 700 million MAD of Covid-19-related losses

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