More than three-quarters of the workforce employed in Morocco do not have health insurance, according to a study by the country's High Planning Commission (HCP).
The insurance sector in Morocco posted a turnover of MAD47.7bn ($5.4bn) in 2020, an increase of 2% compared to 2019, according to data released by the Insurance and Social Insurance Supervisory Authority (ACAPS).
Small and medium-sized enterprises in Morocco have cited the cyber threat as the third biggest risk for businesses, according to a survey by Casablanca-based state-owned reinsurer, Societe Centrale de Réassurance (SCR).
The insurance industry has asked the sector's regulator to look into measures to contain the impact of pandemics over the medium and long term.
The Insurance and Social Insurance Supervisory Authority (ACAPS) has launched "E-Wassit Taamine", an e-learning training programme for the insurance intermediaries.
The insurance sector is expected to show improved performance this year, according to an analysis by BMCE Capital Research.
Torrential rains in Morocco earlier this month have caused cars to be inundated by flood waters and raised questions about the application of the compulsory catastrophic insurance law.
The Insurance and Social Insurance Supervisory Authority (ACAPS) has published an information guide on its catastrophic events (EV CAT) insurance scheme which entered into force on 1 January 2020.
Despite the COVID-19 pandemic, the insurance sector in Morocco continues, on the whole, to demonstrate strength and growth both in the life and in non-life markets, according to a statement issued by the Committee for Coordination and Surveillance of Systemic Risks (CCSRS).
Morocco's leading reinsurer Societe Centrale de Reassurance (SCR) has continued to generate strong operating earnings in recent years, reporting solid technical profitability and good investment returns, despite challenging market conditions, says AM Best.