According to the preliminary figures released by the Direction des Assurances et de la Prévoyance Sociale, the Moroccan insurance market recorded in 2014 written premiums net of cancellations up by 6.3% at 28.421 billion MAD (3.156 billion USD).
The life and non life classes of business respectively achieved a turnover up by 9.3% and 4.9% at 9.399 billion MAD (1.043 billion USD) and 19.022 billion MAD (2.112 billion USD).
Life insurance accounts for 33% of the total amount underwritten by the market, up by 1 point compared to 2013.
The non life class of business is pulled by the motor risks totaling 31.8% of all premiums.
It should be noted that, third party liability insurance has 86% of the motor underwritings. Finally, the insurance penetration rate in 2014 reached 3.14% against 3.09% in 2013.
Nb: growth rates are calculated in local currency