The profitability of the motor insurance branch in Morocco has deteriorated sharply in recent years to the point of pushing the regulator into introducing a provision for price risk to discipline the market.
The holding company Expanso, controlled by insurance entrepreneur Mr Mehdi Tazi, plans to develop a regional InsurTech leader while remaining open to other new opportunities for external growth.
The Supreme Council of Ulemas has issued its nod to seven categories of standard takaful contracts, including that of death insurance. The move will accelerate the market entry of Shariah-compliant insurance products.
AXA Partners, a subsidiary of the AXA group, has agreed to sell its entire 80% stake in AXA Assistance Morocco to Expanso, a holding company owned by Mr Medhi Tazi who is an insurance leader in Morocco.
The rankings of the top four Moroccan insurers, in terms of turnover, remained unchanged in 2021 compared to 2020, even if some performed better than others.
The Insurance and Social Welfare Supervisory Authority (ACAPS) is about to launch the long-awaited Inclusive Insurance Barometer.
The Insurance and Social Security Supervisory Authority (ACAPS) and the Moroccan Federation of Insurance and Reinsurance Companies (FMSAR) have signed a new insurance mediation charter with a view to improving the quality of services rendered to the insured.
The insurance market in Morocco is expected to continue to grow over the medium term, says Ms Meriem Benkhayat, executive director of finance and strategy at Wafa Assurance that is among the biggest insurers in the kingdom.
Casablanca-headquartered Wafa Assurance, one of the biggest insurers in Morocco, plans to enter the reinsurance market, according to Ms Meriem Benkhayat, executive director of finance and strategy at the company.
Egypt's Financial Regulatory Authority last week signed a memorandum of understanding (MoU) with Tunisia's General Insurance Committee (CGA), that is part of the Finance Ministry, on cooperation and information exchange in the supervision of the insurance and reinsurance sector.