Insurance premiums climb by 1.4% at the end of September – Today Morocco

2023-12-19 12:53:12

“Death” premiums were around 2.5 billion dirhams compared to the first eleven months.

Insurance activity: In the third quarter of the year, insurance companies achieved premiums of around 11.9 billion dirhams, down 4.1% compared to the same quarter of the previous year. Cumulatively, these bonuses stand at 42.9%, an improvement compared to a year earlier.

Insurance premiums showed mixed developments in the third quarter. Although the quarterly performance of the activity declined, it nevertheless remained resilient over the first eleven months of the year. This can be seen from recent indicators from the Insurance and Social Security Supervisory Authority. In the third quarter of the year, insurance companies achieved premiums of around 11.9 billion dirhams, down 4.1% compared to the same quarter of the previous year. This breakdown results from the 10.3% drop in life activity in the third quarter. The quarterly premiums achieved in this direction were estimated at 5.8 billion dirhams at a time when non-life premiums recovered by 2.6% for the third quarter to reach 6.1 billion dirhams. Cumulative premiums also stand at 42.9 billion dirhams, an improvement of 1.4% compared to the first eleven months of the previous year.

By analyzing the structure of premiums issued for the first eleven months of the year, savings in dirhams come out on top, totaling 15.6 billion dirhams, including 4.86 billion dirhams in the third quarter. In this sense, we note declines of 11.2% quarter-on-quarter and 3.9% year-on-year. Car bonuses come in second place. The figure achieved since the start of the year at the end of September stands at 11.2 billion dirhams, an improvement of 5%. On a quarterly basis, automobile premiums showed a slight increase (0.4%) to around 3 billion dirhams. Third position goes to bodily injury premiums. They show positive developments both quarterly and cumulatively. Their value reached 4.07 billion dirhams over the first eleven months, an improvement of 6%. In the third quarter of 2023, premiums realized in this direction amounted to 1.27 billion dirhams, an increase of 3.5%. As for “death” premiums, they were around 2.5 billion dirhams compared to the first eleven months of the year, up 1.8%. However, they fell by 2.2% quarter-on-quarter, reaching 707.7 million dirhams.

Regarding work accident and occupational illness insurance, it generated premiums of 2.11 billion dirhams at the end of September, including 441 million dirhams realized between June and September. Fire premiums amounted to 1.98 billion dirhams in the first eleven months of the year, up 10.3% compared to the same period last year. Credit-guarantee assistance saw its premiums reach 1.47 billion dirhams over the said period, an improvement of 7.4%. There are also “UC Savings” bonuses of around 732 million dirhams. Transport premiums were around 669 million dirhams compared to 636 million dirhams for general civil liability, 580 million dirhams for non-life acceptances and 551 million dirhams for other non-life operations. As for investments, they consolidated by 2.4% to reach 204.63 billion dirhams, including 7.9 billion dirhams in real estate investments (46.2%). Interest rate assets increased by 1.9% to reach 102.90 billion dirhams at a time when equity assets fell slightly to reach 87.5 billion dirhams at the end of September.

1702993516
#Insurance #premiums #climb #September #Today #Morocco