According to the Moroccan federation of insurance and reinsurance companies (FMSAR), the turnover of the Moroccan insurance market [4] amounted to 41.345 billion MAD (4.323 billion USD) in 2018, against 38.966 billion MAD (4.149 billion USD) in 2017, an increase of 6.1%. This performance follows three years of a two-digit market evolution.
Non-life insurance reported 23.155 billion MAD (2.421 billion USD) in written premiums with an annual growth of 5.3%. This performance is higher than that of 2017 set at 4.7%. Non-life insurance accounted for 56% of the market.
As for life and capitalization activity, it recorded 18.19 billion MAD (1.901 billion USD) in premiums, up by 7.1% compared to 2017. This growth rate is in sharp decline compared to the 35.4% achieved between 2016 and 2017.
The ranking of companies remains unchanged. Wafa Assurance [5] still at the top with a turnover of 8.371 billion MAD (875 million USD) and a market share of 20%. The Royale Marocaine d’Assurance [6] comes second with a turnover worth 6.543 billion MAD (684 million USD) and a market share of 15.8%. Saham Assurance [7] ranks third with 5.223 billion MAD (546 million USD) in premiums and a market share of 12.6%.
It should be noted that these three companies alone account for almost half of the market premiums (48.4%).