9.3% increase in insurance premiums in 2022

The Insurance and Social Welfare Control Authority (ACAPS) indicated that the premiums issued by insurance and reinsurance companies reached 54.9 billion dirhams (MMDH) for the year 2022, in increase of 9.3% compared to 2021.

In a document on quarterly statistics, ACAPS indicates the “Life” branch increased by 11.5% to 25.57 billion dirhams and the “Non-life” branch increased by 7.5% to 29.32 billion dirhams.

At the level of the “Life” branch, the “Savings-Supports Dirhams” segment posted an increase of 17.3% to more than 21.13 billion dirhams, that of “Death” increased by 0.6% (3.23 MMDH), while the “Unit-linked savings-support” segment fell by 29.7%.

In the “Non-life” branch, the premiums are distributed in particular on Automobile with 13.88 billion dirhams (+6.9%), Bodily accidents (+6.4% to 5.07 billion dirhams), accidents at work and occupational diseases (+7.1% to 2.48 billion dirhams), Fire (+2% to 2.09 billion dirhams), Assistance – credit – surety (+9.6% to 1.67 billion dirhams), General Liability (+13.4% to 685 million dirhams MDH) and Transport (+21.1% to 855.8 MDH).

For the fourth quarter of 2022, premiums issued amounted to 12.54 billion dirhams (+14.3%). Life premiums reached 5.8 billion dirhams (+13.1%) and non-life premiums 6.8 billion dirhams (+15.3%).

Services paid for the last four months of 2022 amounted to 9.2 billion dirhams, up 23.3%. Acquisition and management expenses, for their part, increased by 4.6% to 2.72 billion dirhams in Q4-2022.

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