Moroccan insurance market in 2022

Figures in thousands

Class of business	2022 turnover ⁽¹⁾		2021 turnover		2021-2022 evolution ⁽²⁾	2022 shares
Class of business	MAD	USD	MAD	USD	2021-2022 evolution ⁽²⁾	2022 shares
Motor	13 726 700	1 294 153	12 988 700	1 389 791	5.68%	25.18%
Bodily injury and health	5 045 900	475 727	4 772 800	510 690	5.72%	9.26%
Workmen's compensation	2 495 000	235 229	2 319 600	248 197	7.56%	4.58%
Fire	2 095 700	197 583	2 053 600	219 735	2.05%	3.84%
Assistance, credit, bond	1 671 400	157 580	1 513 900	161 987	10.40%	3.07%
Marine	883 600	83 306	706 400	75 585	25.08%	1.62%
General third party liability	703 400	66 316	604 400	64 671	16.38%	1.29%
Natural disasters (GCEC) ⁽³⁾	560 900	52 882	521 800	55 832	7.49%	1.03%
Technical risks	284 400	26 813	276 100	29 543	3.01%	0.52%
Other non-life operations	949 800	89 547	888 200	95 037	6.94%	1.74%
Non-life acceptances ⁽⁴⁾	686 000	64 676	619 000	66 233	10.82%	1.26%
Non-life total	29 102 800	2 743 812	27 264 500	2 917 301	6.74%	53.39%
Capitalisation	10 558 600	995 465	9 305 500	995 689	13.47%	19.37%
Individual insurances	10 076 700	950 031	9 049 200	968 264	11.35%	18.49%
Group insurances	3 540 900	333 836	2 880 900	308 256	22.91%	6.5%
Variable insurance contracts	1 229 200	115 889	1 706 700	182 617	-27.98%	2.25%
Other life operations	2 300	217	-	-	-	0%
Life acceptances	-	-	100	11	-	-
Total Life & capitalisation	25 407 700	2 395 438	22 942 400	2 454 837	10.75%	46.61%
Grand total	54 510 500	5 139 250	50 206 900	5 372 138	8.57%	100%

⁽¹⁾ Preliminary situation
⁽²⁾ Growth rate in local currency
⁽³⁾ Guarantee against the consequences of catastrophic events (GCEC)
⁽⁴⁾ Including GCEC acceptances

Source: Moroccan Federation of Insurance and Reinsurance Companies

Exchange rate as at 31/12/2021 : 1 MAD = 0.107 USD ; at 31/12/2022 : 1 MAD =0.09428 USD

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Thu, 13/04/2023 - 10:27

Moroccan insurance market in 2022

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