Ranking of Moroccan insurers according to 2021 turnover

Magazine Issue:

Market consolidation [3]

Magazine date:

Jun 2022

Figures in thousands

Rank	Companies	2021 turnover		2020 turnover		2020-2021 evolution *	2020 shares
Rank	Companies	MAD	USD	MAD	USD	2020-2021 evolution *	2020 shares
1	Wafa Assurance	9 088 900	972 512	8 374 200	929 704	8.53%	18.25%
2	RMA	7 680 700	821 835	6 876 000	763 374	11.70%	15.42%
3	Mutuelle Taamine Chaabi	6 308 400	674 999	5 787 300	642 506	9.00%	12.66%
4	Saham Assurance	5 621 100	601 458	5 126 000	569 089	9.66%	11.28%
5	Axa Assurance Maroc	5 567 400	595 712	4 871 700	540 856	14.28%	11.18%
6	AtlantaSanad	5 400 800	577 886	4 937 600	548 172	9.38%	10.84%
7	La Marocaine Vie	2 339 100	250 284	2 158 200	239 603	8.38%	4.70%
8	MCMA	2 067 000	221 169	1 798 000	199 614	14.96%	4.15%
9	Allianz Assurance Maroc	1 426 800	152 668	1 572 300	174 557	-9.25%	2.86%
10	MAMDA	1 172 100	125 415	1 092 500	121 289	7.29%	2.35%
11	CAT	779 800	83 438	694 100	77 059	12.35%	1.57%
12	MATU	714 100	76 409	525 700	58 363	35.84%	1.43%
13	Maroc Assistance Internationale	620 900	66 436	561 500	62 338	10.58%	1.25%
14	Africa First Assist ⁽²⁾	322 000	34 454	325 800	36 170	-1.17%	0.65%
15	Wafa Ima Assistance	281 600	30 131	258 300	28 677	9.02%	0.57%
16	Euler Hermes ACMAR	134 200	14 359	136 300	15 132	-1.54%	0.27%
17	RMA Assistance	123 000	13 161	109 200	12 123	12.64%	0.25%
18	Coface Maroc	71 200	7 618	81 100	9 004	-12.21%	0.14%
19	Axa Assistance Maroc	55 800	5 970	47 000	5 218	18.72%	0.11%
20	Smaex	34 700	3 713	27 600	3 064	25.72%	0.07%
Grand total		49 809 600	5 329 627	45 360 400	5 035 912	9.81%	100%

⁽¹⁾ Growth rate in local currency.
⁽²⁾ SAHAM Assistance becomes Africa First Assist in 2021.
Exchange rate as at 31/12/2021 : 1 MAD = 0.107 USD ; as at 31/12/2020 : 1 MAD = 0.11102 USD

Read also | Moroccan insurance market [4]