All key insurance coverage branches demonstrate top class development in 2022 besides investment-linked lifestyles phase

The overall top class source of revenue of insurance coverage and reinsurance firms in Morocco reached MAD54.9bn in 2022, expanding by means of 9.3% in nominal phrases in comparison to 2021, in line with the Insurance coverage and Social Welfare Supervisory Authority (ACAPS).

The lifestyles insurance coverage sector grew quicker than the non-life marketplace, rising at 11.5% as opposed to 7.5%, ACAPS discloses in its 4Q2022 statistical record. The break up between lifestyles insurance coverage industry and non-life was once 47% to 53%.

Financial savings plans contributed the most important proportion of 82.6% to top class source of revenue generated within the lifestyles insurance coverage sector. It was once additionally the quickest rising department of lifestyles industry.

Within the non-life sector, all traces confirmed development in 2022. Motor third-party legal responsibility insurance coverage was once the most important department, contributing 39% to general non-life top class source of revenue in 2022.

Department	Premiums (MAD m)	Y-o-Y trade
Lifestyles	25,569.3	+11.5%
Financial savings plans	21,130.8	+17.3%
Demise coverage plans	3,236.0	+0.6%
Funding-linked plans	1,200.2	-29.7%
Others	2.3	–
Non-life	29,324.8	+7.5 %
Disaster	554.3	+6.2 %
Twist of fate and well being	5,076.9	+6.4 %
– of which, well being	4,373.0	+8.5 %
Administrative center twist of fate & sickness	2,485.3	+7.1 %
Car	13,883.5	+6.9 %
– of which, Third-party legal responsibility	11,446.0	+6.1 %
Legal responsibility	685.4	+13.4 %
Fireplace	2,093.8	+2.0 %
Technical dangers	277.1	+0.4 %
Delivery	855.8	+21.1 %
Credit score	1,666.9	+9.6 %
Acceptances	797.5	+28.8 %
Others	948.3	+6.8 %
Overall	54,894.1	+9.3 %
Supply: ACAPS