As for “Non-life” premiums, the figure generated stands at 29.32 billion DH, an improvement of 7.5%. Quarterly performance is estimated at 15.3%
Performance
The momentum displayed by the insurance sector at the end of 2022 is driven by both Life and Non-Life business.
The insurance sector ends 2022 on a positive note. The indicators for the fourth quarter of the year are green, even showing double-digit growth both quarterly and cumulatively. This is what can be seen from the latest statistics published by the Insurance and Social Welfare Supervisory Authority (ACAPS). Premiums issued for the 2022 financial year amounted to 54.89 billion dirhams, up 9.3% year-on-year. 12.54 billion dirhams of this figure were made in the fourth quarter of the year, thus marking an increase of 14.3% compared to the same half of the previous year. This performance is in fact driven by both Life and Non-Life business.
11.5% increase in “Life” premiums
With regard to the “Life” activity, the latest statistics show premiums of around 25.56 billion dirhams, including 5.77 billion dirhams generated in the fourth quarter of 2022. In this sense, we note an increase of 11.5% year-on-year and 13.1% quarterly. At the end of 2022, the premiums issued by the “Life” activity consisted of 21.13 billion dirhams of “savings-support dirhams” (+17.3%). Death insurance contributes 3.23 billion dirhams, up slightly compared to the end of 2021 (0.6%). On the other hand, “Savings-unit-linked support” premiums fell by 29.7% at the end of 2022, thus returning to 1.2 billion dirhams.
29.32 billion DH generated by the “Non-Life” activity
As for “Non-Life” premiums, the figure generated stands at 29.32 billion dirhams, an improvement of 7.5%. Quarterly performance is estimated at 15.3%, ie premiums of around 6.74 billion dirhams in the last quarter of the year. All aggregates show positive behavior. In this regard, we note a 6.2% increase in “catastrophic event” premiums. The premiums issued in this direction reached 554.3 million dirhams at the end of 2022. Personal accident premiums for their part appreciated by 6.4% to reach 5.07 billion dirhams, including 4.37 billion dirhams in health insurance (+8.5%).
Premiums for accidents at work and occupational diseases (AT&MP) amounted to 2.48 billion dirhams (+7.1%). There is also a 6.9% increase in “car” premiums. The figure achieved at the end of 2022 is around 13.88 billion dirhams, including 11.44 billion dirhams for civil liability (6.1%). “General liability” premiums peaked at 13.4%, standing at around 685.4 million dirhams, while fire premiums improved by 2% to reach 2.09 billion dirhams.
9.23 billion dirhams in services and fees paid
With regard to services and expenses paid, they amounted to 9.23 billion dirhams in the fourth quarter of the year, thus marking an increase of 23.3% compared to the same period of the previous year.
In this sense, benefits of 4.63 billion “Life” (56.4%) and 4.59 “Non-Life” (1.6%) dirhams were noted. Acquisition and management expenses for their part rose by 4.6%, thus reaching 2.72 billion dirhams. With regard to investments, they have reached 195.62 billion dirhams to date, including 5.52 billion dirhams of real estate investments, 98.18 billion dirhams of rate assets and 86.68 billion dirhams of stock assets.