New Insurance market report from Timetric: "The Insurance Industry in Morocco, Key Trends and Opportunities to 2018"
Boston, MA -- (SBWIRE) -- 12/11/2014 -- The Moroccan insurance industry is one of the largest in the Arab region, and the second-largest in Africa. Insurance penetration in Morocco stood at 3.03% in 2013, while the premium per capita stood at MAD815.4. Morocco's insurance penetration was the region's highest in 2013 despite low income levels and unfavorable demographics. However, the industry grew at a CAGR of 6.2% during the review period (2009-2013). This growth was driven by favorable government strategies to expand the insurance industry, such as compulsory health insurance and third-party motor insurance, and the Contrat Program in 2011. Growth was further supported by economic development, the expanding mortgage market, growth in the travel and tourism industry and the introduction of bancassurance.
- The Moroccan insurance industry is one of the largest in the Arab region, and the second-largest in Africa.
- The Moroccan government introduced multiple insurance reforms during the review period to develop a favorable environment for foreign investors and insurers.
- The government has introduced reforms to improve efficiency and effectiveness in the public healthcare system. However, there are wide disparities in terms of access to healthcare. The Ramed project was launched in 2008 to serve those not eligible for compulsory health insurance. Around 5.1 million people, approximately 15% of the population, were covered by Ramed by the end July 2013.
- High unemployment is a challenge to the Moroccan economy.
- The high rates of unemployment are expected to raise poverty and income inequality, which may impact the insurance industry, as unemployed people tend to be less inclined to invest in financial products.
View Full Report Details and Table of Contents
This report provides a comprehensive analysis of the insurance industry in Morocco:
- It provides historical values for the Moroccan insurance industry for the report's 2009-2013 review period, and projected figures for the 2013-2018 forecast period.
- It offers a detailed analysis of the key segments and categories in the Moroccan insurance industry, along with forecasts until 2018.
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions.
- It profiles the top insurance companies in Morocco, and outlines the key regulations affecting them.
Reasons to Get this Report
- Make strategic business decisions using in-depth historic and forecast industry data related to the Moroccan insurance industry and each segment within it.
- Understand the demand-side dynamics, key trends and growth opportunities in the Moroccan insurance industry.
- Assess the competitive dynamics in the Moroccan insurance industry.
- Identify the growth opportunities and market dynamics in key segments.
- Gain insights into key regulations governing the Moroccan insurance industry and their impact on companies and the industry's future.
Companies Mentioned in this Report: Wafa Assurance, RMA Watanya, Marocaine Vie, MCMA, Axa Assurance Maroc, Saham Assurance SA (CNIA Saada), Sanad, Atlanta
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