Already the largest and most developed in North Africa, the Moroccan insurance market is currently undergoing a range of reforms aimed at cementing its stability and further boosting premiums growth. While the life segment appears to be growing faster than non-life given its lower penetration rate, auto insurance can expect to see significant expansion as car ownership levels continue to rise. Plans to launch takaful (Islamic insurance) products and relax restrictions on distribution should further support continued growth in the coming years. Moroccan firms’ expansion drive in Africa is also set to continue, cementing the kingdom’s status as one of the continent's major insurance players.
This chapter contains an interview with Hassan Boubrik, Chairman, Supervisory Authority of Insurance and Social Welfare.