Strong performance by the Moroccan bancassurance market

A recent report by the Moroccan Supervisory Authority of Insurance and Social Welfare (ACAPS), indicates that the turnover of the Moroccan bancassurance market has reached 18.3 billion MAD (1.7 billion USD) in 2022, up by 13.2% over one year. This is the first time that bancassurance business has exceeded that of insurance brokers.

The life and capitalization business accounts for 96.4% of premiums written by bancassurance operators. The remaining 3.6% is divided between the assistance, health and personal accident lines.

As at 31 December 2022, bancassurance accounted for 32% of the total market, against 31% for the brokerage business.