2023-05-09 10:14:00
The Insurance and Social Welfare Supervisory Authority (ACAPS), reported that the Takaful activity generated a volume of premiums issued of 11.8 million dirhams (MDH) for the first year of its start-up. 2022.
In a document on the situation of the insurance and reinsurance sector in 2022, ACAPS explains that this volume is divided between life insurance (84%), fire insurance (10%) and Takaful investment insurance. individual (5%).
In 2022, the document highlights, the Moroccan insurance sector continues “its good performance” by achieving a business volume of 57.5 billion dirhams (MMDH) and a growth of 9.7%.
With regard to direct business, premiums issued rose by 8.5% to reach 53.8 billion dirhams, said ACAPS, noting that over ten years, the sector maintains a regular performance with an average annual growth rate. by 8.1%.
By branch, life insurance rose by 10.7% to 25.4 billion dirhams. This increase is driven by the collection of savings which recorded a growth of 12.4% to 22.2 billion dirhams and this, despite the decline in its unit-linked component (-28%), notes the same source, adding that the death has experienced a slight decrease of 0.1% to 3.2 billion dirhams.
Regarding non-life insurance, it recorded growth of 6.6% with an issue volume of 28.4 billion dirhams, underlines ACAPS.
Growth is mainly driven by motor insurance, which recorded a volume of premiums of 13.7 billion dirhams and an increase of 5.7%, followed by bodily accident insurance whose issues increased by 5.7% to 5 billion dirhams and work accident insurance with an increase of 7.6% to 2.5 billion dirhams. The rest of the non-life categories, representing 13% of the branch, posted growth of 8.8% to 7.2 billion dirhams.
Regarding the reinsurance business, the amount of acceptances rose by 30.3% to 3.7 billion dirhams, concentrated mainly in non-life insurance (95%). Of this volume of business, exclusive reinsurers have an 81% market share.
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