Strong growth in credit insurance market

The credit insurance market is booming. Many Moroccan banks and companies are increasingly turning to this coverage in order to cope with the phenomenon of unpaid and bad debts.

Between 2013 and 2015, the credit insurance market rose by 40%, from 90.5 million MAD (11.23 million USD) to 126.2 million MAD (12.8 million USD) in premiums.

Despite this progress, the credit insurance market share remains low. Premiums in this sector accounted for only 0.5% of the total Moroccan insurance market in 2015.

Read also:

• Official launch of the new insurance supervisory authority (ACAPS)
• Moroccan insurance supported by the life class of business