Performance of the Moroccan insurance market in 2021
Bank Al-Maghrib, the Supervisory Authority of Insurance and Social Welfare (ACAPS) and the Moroccan Capital Market Authority (AMMC) have published the 9th annual report on the financial stability.
In 2021, the turnover of the Moroccan insurance sector (including reinsurance acceptances) reached 52.4 billion MAD (5.6 billion USD ), up 8.9% over one year.
The premiums volume is broken down as follows:
- 26.7 billion MAD (2.9 billion USD) for non-life insurance,
- 22.9 billion MAD (2.5 billion USD) for life business,
- 2.8 billion MAD (299.6 million USD) for reinsurance acceptances.
All local insurers and reinsurers' net result amounted to 4.2 billion MAD (449.4 million USD), up 31.4% compared to 2020.
The market structure, in terms of stakeholders’ number and market share, remained almost stable in 2021.
The concentration of the sector, measured by the Herfindahl-Hirshman Index (HHI), thus remained at its average level at 0.117 in 2021 against 0.116 in 2020.
