The Supervisory Authority of Insurance and Social Welfare (ACAPS) has published the preliminary results of the Moroccan insurance market for the year 2020.
The entirety of insurance companies (excluding reinsurance companies) recorded a 2% turnover increase which was set at 45.785 billion MAD (5.08 billion USD).
With 55.4% market share, non-life premiums grew by 3.9% and were established at 25.365 billion MAD (2.8 billion USD).
The Property and Casualty activity is driven by the motor class of business with a premium income of 11.874 billion MAD (1.3 billion USD).
Life underwritings decreased by 0.2% over one year and were set at 20.42 billion MAD (2.2 billion USD). They represent 44.6% of total written premiums in Morocco in 2020.
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