Morocco: Bancassurance netted 25% of total premiums in 2017

Source: Middle East Insurance Review | Dec 2018

Premiums generated by bancassurance jumped by 21% to MAD9.7bn ($1bn) in 2017, and doubled in the 10 years from 2008 to 2017, according to data from the Supervisory Authority for Insurance and Social Security (ACAPS). Bancassurance accounted for almost 25% of overall premiums of MAD39bn generated through all channels last year.

Wafa Assurance, RMA Watanya and Mutuelle Attamine Chaabi received around 80% of bancassurance premiums collected last year. Wafa’s share was the biggest, at 38%.

The top three banks with insurance operations were AWB (Attijariwafa Bank), Banque Centrale Populaire (BCP) and BMCE Bank. Their combined premiums from bancassurance stood at MAD7.9bn, or 81% of total premiums collected through this channel.

The bancassurance commissions received by banks for 2017 stood at MAD425m, an increase of 16% compared to 2016. M

MAD1 = $0.11

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