Premiums Inch Upward in Moroccan Insurance Sector
The Moroccan insurance sector witnessed a modest 1.4% increase in premiums during the first nine months of the year, as reported by the Insurance and Social Welfare Control Authority (ACAPS). By the end of September, premiums had reached 42.94 billion Moroccan dirhams.
In the third quarter alone, premiums totaled 11.91 billion dirhams, reflecting a 4.1% decrease compared to the same period last year.
Breaking it down by insurance branch, the non-life sector experienced a notable 6.8% increase, while the life branch saw a decline of 4.6% over the nine-month period.
In the life insurance category, the dirham savings segment and unit-linked savings segment recorded respective declines of 3.9% and 30.9%, although the death benefit segment showed a slight increase of 1.8%.
ACAPS also highlighted a significant 66.2% surge in technical risk premiums, reaching 333.2 million dirhams.
Bodily injury premiums grew by 6%, totaling just over 4.07 billion dirhams. Additionally, fire insurance premiums rose by 10.3% to 1.98 billion dirhams.