Moroccan insurers' turnover increase in 2021

The Supervisory Authority of Insurance and Social Welfare (ACAPS) has published preliminary data showing that Moroccan insurance companies (excluding exclusive reinsurers) recorded a 10% turnover increase in 2021. The written premiums reached 50.25 billion MAD (5.3 billion USD).

The market is dominated by the non-life business which, with a 54.7% market share, achieved a turnover of 27.48 billion MAD (2.9 billion USD).

The non-life activity is driven by motor insurance with 12.89 billion MAD (1.37 billion USD) of premium income at the end of 2021.

Life premiums grew by 11.7% to reach 22.78 billion MAD (2.4 billion USD). They represent 45.3% of the total business underwritten in Morocco in 2021.