Morocco / Acaps: Increase to 42.1 billion dirhams in premiums issued by insurance and reinsurance companies

Premiums issued by insurance and reinsurance companies stood at 42.1 billion dirhams (billion dirhams) at the end of November 2020, up 2% compared to the same period of the previous year.

Statistics made public by the Insurance and Social Security Control Authority (Acaps) also show an increase in the “Non-Life” branch of 3.4% to 23.65 billion dirhams, mainly under the effect of the good behavior of the majority of its sub-branches. In detail, the premiums for bodily accidents stood at nearly 4.2 billion dirhams at the end of November, an improvement of 1.8%, while those issued under the “Fire” insurance amounted to 2 MMDH, up 18.9%.

Premiums for “Transport” insurance were 632.1 million dirhams (MDH), an increase of 5.3%, notes the same source.

The Acaps also reports a drop of 1.1% in motor insurance premiums to 11.09 billion dirhams, while those of occupational accidents and diseases insurance, recorded a drop of 1.4 % amounting to 2.2 billion dirhams.

With regard to the “Life” branch, written premiums have almost stagnated at MAD 18.43 billion (+ 0.01%) compared to the end of November 2019, notes the Acaps, noting that the sub-branch “Savings-support dirhams “posted a withdrawal of 1.3% to 14.51 billion dirhams.

For their part, death premiums fell by 0.9% to MAD 2.65 billion at the end of November, while premiums relating to unit-linked savings support appreciated by 23.9%, standing at to 1.26 billion dirhams.

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