Turnover increase for Moroccan insurers in Q1 2023

The Supervisory Authority of Insurance and Social Welfare (ACAPS) has estimated that the Moroccan insurance market's turnover reached 16.6 billion MAD (1.6 billion USD) as at 31 March 2023. This figure shows an 8.6% increase compared to the same period of 2022.

Non-life premiums have reached 11.3 billion MAD (1.1 billion USD), up by 10.6% over one year. This class of business accounts for 68.1% of the total portfolio during the first quarter of the current year.

During the period under consideration, life underwritings have progressed by 4.4% to stand at 5.3 billion MAD (516.5 million USD), which represents 31.9% of the market share.