Magazine date:
Oct 2017 The 2016 arrears amounted to 11.3 billion MAD (1.12 billion USD), up by 7.6% in comparison with 2015. Receivables from companies’ direct underwritings amount to 6.8 billion MAD (675.4 million USD) that is 60% of the total amount. The remaining 4.5 billion MAD (446.9 million USD) comes from intermediaries.
The new regulation, which came into force in February 2016, requires Moroccan insurance companies to deposit 100% of unpaid premiums over 18 months. This rate falls to 50% for arrears of less than 12 months and 25% for those of 9 months. Intermediaries are required to transfer premiums to companies within 15 days after the end of the month.
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