Morocco: Sector sees 13% fall in premiums in March
Source: Middle East Insurance Review | Jun 2020
Premiums generated by the insurance industry in Morocco reached MAD3.08bn ($312.2m) in March 2020, down 13% compared to March 2019, according to data published by Supervisory Authority of Insurance and Social Welfare (ACAPS). The industry’s performance was affected by the coronavirus pandemic.
Life premiums shrank by 17.3% to MAD1.41bn, while non-life premiums fell by 9.1% to MAD1.67bn in March 2020, compared to March 2019.
In the first quarter of the year, however, total premiums still showed an increase compared to the corresponding quarter in 2019, according to data from ACAPS (Table 1). M
MAD1 = $0.10