Moroccan insurance market in 2023

August 01, 2024
Morocco

Figures in thousands

Class of business2023 Turnover2022 Turnover2022-2023 evolution (1)2023 shares
MADUSDMADUSD
Motor14 370 5001 428 28413 726 7001 294 1534.69%25.32%
Personal accident5 389 600535 6725 045 900475 7276.81%9.50%
Workmen's compensation2 557 000254 1402 495 000235 2292.48%4.50%
Fire 2 284 200227 0272 095 700197 5838.99%4.02%
Assistance, credit, bond1 769 700175 8901 671 400157 5805.88%3.12%
Marine 839 90083 478883 60083 306-4.95%1.48%
General third-party liability741 50073 698703 40066 3165.42%1.31%
Natural catastrophes (GCEC) (2)571 70056 821560 90052 8821.93%1.01%
Technical risks459 20045 640284 40026 81361.46%0.81%
Other non-life operations1 096 700109 001949 80089 54715.47%1.93%
Non-life acceptances (3)765 20076 053686 00064 67611.55%1.35%
Total non-life30 845 2003 065 70429 102 8002 743 8125.99%54.35%
Capitalization10 652 6001 058 76210 558 600995 4650.89%18.77%
Individual insurance10 518 4001 045 42410 076 700950 0314.38%18.53%
Group insurance3 483 700346 2453 540 900333 836-1.60%6.14%
Variable capital contracts1 256 200124 8541 229 200115 8892.20%2.21%
Other life operations500492 300217-78.26%-
Total life and capitalization25 911 4002 575 33425 407 7002 395 4381.98%45.65%
Grand total56 756 6005 641 03854 510 5005 139 2504.12%100%

(1) Growth rate in local currency
(2) Guarantee against the consequences of catastrophic events (GCEC)
(3) Including GCEC acceptances
Exchange rate as at 31/12/2023: 1 MAD = 0.09939 USD ; 31/12/2022: 1 MAD = 0.09428 USD.

Morocco

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