2023-05-08 21:00:56
The Moroccan insurance sector did well in 2022 by achieving a business volume of 57.5 billion dirhams, i.e. a growth of 9.7%.
With regard to direct business, the premiums issued increased by 8.5% to reach 53.8 billion DH, specifies the Insurance and Social Welfare Supervisory Authority (ACAPS), noting that over ten years, the sector maintains a regular performance with an average annual growth rate of 8.1%.
By branch, life insurance increased by 10.7% to 25.4 billion DH, a performance driven by the collection of savings which recorded growth of 12.4% to 22.2 billion DH and this, despite the decline in its unit-linked component (-28%), notes ACAPS. The “death” insurance experienced a slight decrease of 0.1% to 3.2 billion DH.
With regard to non-life insurance, it recorded a growth of 6.6% with an issue volume of 28.4 billion DH, underlines the ACAPS. This performance is explained by automobile insurance, which recorded a volume of premiums of 13.7 billion (+5.7%), followed by personal accident insurance, the issuance of which increased to 5 billion DH ( +5.7%) and work accident insurance with an increase of 7.6% to 2.5 billion dirhams (+7.6%).
Concerning the reinsurance activity, the amount of acceptances rose by 30.3% to 3.7 billion dirhams, concentrated mainly in non-life insurance (95%). Of this volume of business, exclusive reinsurers have an 81% market share.
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