Home » Economy » Insurance and Reinsurance Premiums in Morocco Reach Record High in 2023: ACAPS Report

Insurance and Reinsurance Premiums in Morocco Reach Record High in 2023: ACAPS Report

by Alexandra Hartman Editor-in-Chief

2023-12-18 10:27:03

Premiums issued by insurance and reinsurance companies reached nearly 42.9 billion dirhams (billion dirhams) at the end of September 2023, up 1.4%, compared to the same period of the previous year, indicates the Insurance and Social Security Supervisory Authority (ACAPS).

Thus, the “Non-life” branch increased by 6.8%, while the “Life” branch decreased by 4.6%, according to statistics recently published by the Authority.

In the “Life” branch, the “Savings-support dirhams” and “Savings-support unit-of-account” segments recorded a decline of 3.9% and 30.9% respectively, while the “death” segment experienced a decline. increase of 1.8%.

The Authority also reports an increase in technical risk premiums of 66.2% to 333.2 million dirhams (MDH).

Furthermore, premiums for personal accidents stood at nearly 4.07 billion dirhams at the end of September, up 6%, while those issued under “Fire” insurance amounted to 1.98 billion dirhams. MMDH (10.3%).

(with MAP)

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