Turnover increase for Moroccan insurers in Q1 2023

The Supervisory Authority of Insurance and Social Welfare (ACAPS) has estimated that the Moroccan insurance market [4]'s turnover reached 16.6 billion MAD (1.6 billion USD) as at 31 March 2023. This figure shows an 8.6% increase compared to the same period of 2022.

Non-life premiums have reached 11.3 billion MAD (1.1 billion USD), up by 10.6% over one year. This class of business accounts for 68.1% of the total portfolio during the first quarter of the current year.

During the period under consideration, life underwritings have progressed by 4.4% to stand at 5.3 billion MAD (516.5 million USD), which represents 31.9% of the market share.