According to data collected from the Moroccan federation of insurance and reinsurance companies (FMSAR), the Moroccan insurance market generated a turnover of 38.92 billion MAD (4.17 billion USD) in 2017, up by 11% compared to 35.1 billion MAD (3.49 billion USD) in 2016.
The non-life insurance activity accounted for 56.4% of premiums against 43.6% for the life insurance business.
With a total premium of 8.04 billion MAD (861.81 million USD), Wafa Assurance controls 20.6% of the market. It is followed by Royale Marocaine d’Assurance which detains 16% of market share (6.22 billion MAD, 666.72 million USD). Saham Assurance ranked third with a turnover of 4.85 billion MAD (519.87 million USD), that is 12.5% of the overall underwritings.
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