Moroccan insurance market: 5.3% premium increase in H1 2022

According to the Supervisory Authority of Insurance and Social Welfare (ACAPS), Moroccan insurers have recorded a 5.3% increase of their overall turnover as at 30 June 2022 to 29.7 billion MAD (2.9 billion USD).

During the first half of 2022, non-life premiums have progressed by 5.2% to reach 16.5 billion MAD (1.6 billion USD), that is, 55.6% of the market share.

As for the life activity, the half-yearly turnover stood at 13.2 billion MAD (1.3 billion USD), growing by 5.3% over a year.

The life class of business represents 44.4% of the total premiums written in Morocco during the first half of 2022.