Africa - Morocco: Insurance agents' bodies unite to face challenges

Source: Middle East Insurance Review | Feb 2016

The National Federation of Insurance Agents and Brokers in Morocco (FNACAM) and the Moroccan Union of Insurance Agents and Brokers (UMAC) are combining their expertise and resources to serve the profession in particular and the insurance industry as a whole.

The partnership between the two associations marks a common desire to unite all the players around organisational challenges and the impact of regulatory changes on the activities of insurance intermediaries in Morocco, reported Medias24.

FNACAM was established in 1993 from the merger of Interprofessional Grouping of Insurance and Reinsurance Brokers (Gicar) and National Union of Insurance Agents and Brokers (Unacam). It now represents some 600 insurance intermediary companies. FNACAM members represent about 75% of market premiums.

UMAC was established following the change in status of the Moroccan Union of Insurance Agents (UMAG) after the creation under a 2012 law of the Insurance and Social Welfare Regulatory Authority, with the aim of protecting insurance intermediaries.

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