Moroccan insurers resilient in the face of Covid-19 aftermaths

Moroccan insurance marketThe Coordination and Systemic Risk Monitoring Committee (CCSRS), made up of representatives of Bank Al-Maghrib, the Moroccan Capital Market Authority (AMMC), the Insurance and Social Welfare Supervisory Authority (ACAPS) and the Treasury and External Finance Directorate, organized its 16th meeting on 22 December 2022.

According to the committee, the insurance sector continues to show solid fundamentals and demonstrate its resilience in the face of a difficult international environment, marked by the aftermath of the health crisis.

During the first nine months of 2022, all Moroccan insurers recorded a turnover of 42.4 billion MAD (3.8 billion USD), up 7.7% over one year. This performance was driven by a 9.5% increase in life underwritings to 19.8 billion MAD (1.8 billion USD) and a 6.1% improvement in non-life premiums to 22.6 billion USD (2 billion USD).

Insurance companies' investment grew by 3% to 216.7 billion MAD (19.5 billion USD) as of 30 September 2022.

Unrealised capital gains, however, fell by 40.6% to 19.3 billion MAD (1.7 billion USD) due to a declining stock market and higher secondary market rates.

The industry continues to generate an average solvency margin of more than three times the regulatory minimum.

Your rating: None
Advertising Program          Terms of Service          Copyright          Useful links          Social networks          Credits