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).
The life branch recorded a turnover amounting to MAD20.4bn, which represented a decrease of 0.2% over 2019.
The non-life branch increased turnover by 3.9% to MAD 25.36bn in 2020, compared to 2019.
A breakdown of premium income by line of business is as follows:
Line
|
2020 Premiums
MAD m
|
Increase/decrease over 2019
|
2020 market
share %
|
Life
|
20,420.0
|
-0.2
|
100.0
|
Savings plans
|
16,084.1
|
-0.8
|
78.8
|
Protection plans
|
2,938.8
|
-2.5
|
14.4
|
Unit linked plans
|
1,396.7
|
13.7
|
6.8
|
Acceptances
|
0.4
|
-53.5
|
-
|
Non-life
|
25,365.3
|
3.9
|
100.0
|
Motor
|
11,874.7
|
-0.6
|
46.8
|
Accident
|
4,447.4
|
0.7
|
17.5
|
Work accident & occupational disease
|
2,258.3
|
-1.4
|
8.9
|
Fire
|
2,065.2
|
28.3
|
8.1
|
Credit
|
1427.7
|
-12.6
|
5.6
|
Transport
|
652.9
|
2.1
|
2.6
|
General liability
|
594.0
|
4.6
|
2.3
|
Catastrophe
|
482.6
|
-
|
1.9
|
Technical risk
|
177.0
|
-38.7
|
0.7
|
Acceptances
|
479.3
|
133.2
|
1.9
|
Others
|
906.1
|
11.0
|
3.7
|
Total
|
45,785.3
|
2.0
|
|
Source: ACAPS