Research and Markets(http://www.researchandmarkets.com/research/wtn5f3/the_insurance) has announced the addition of the “The Insurance Industry in Morocco, Key Trends and Opportunities to 2018” report to their offering.
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.
Key Highlights
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.
Key Topics Covered:
1 Executive Summary
2 Introduction
3 Moroccan Insurance Industry Overview
4 Industry Segmentation
5 Competitive Landscape
6 Macroeconomic Indicators
7 Appendix
Companies Mentioned
– Wafa Assurance
– RMA Watanya
– Marocaine Vie
– MCMA
– Axa Assurance Maroc
– Saham Assurance SA (CNIA Saada)
– Sanad
– Atlanta
For more information visit http://www.researchandmarkets.com/research/wtn5f3/the_insurance
Research and Markets
Laura Wood, Senior Manager
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Sector: Insurance
Source: Research and Markets
