Insurance
From The Report: Morocco 2015
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The second-largest in Africa and 53rd-largest in the world by total premiums, Morocco’s insurance market is dominated by the non-life segment, and in particular by compulsory automobile insurance. Plans to make other forms of insurance mandatory are in the works but have yet to be implemented. Market share is concentrated in the hands of a small number of mostly local firms, although foreign insurance companies are also active in the market and several French firms have gained a substantial portion of local business. Since the insurance sector is one of the kingdom’s largest sectors of institutional investors and is heavily invested in local equities, new solvency rules are being explored to mitigate the risks this poses.

This chapter contains a roundtable with Zouheir Bensaid, CEO, RMA Watanya; Ali Harraj, CEO, Wafa Assurance; and Mehdi Tazi, CEO, Saham Assurance.

Articles from this Chapter

Overview

Regulatory factors affect rate of expansion for insurance sector in Morocco
OBG
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Morocco hosts one of the most developed insurance industries in Africa. The sector is dominated by nonlife lines, and in particular compulsory car insurance. Plans are in place to make several other forms of insurance compulsory but these have yet to be implemented. Market share is concentrated in the hands of a small number of mostly locally owned firms, although foreign insurance firms are also active in the market and several French firms have gained a substantial portion of local business. At…

Overview

New markets: OBG talks to Zouheir Bensaid, CEO, RMA Watanya; Ali Harraj, CEO, Wafa Assurance; and Mehdi Tazi, CEO, Saham Assurance
OBG
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Interview:Zouheir Bensaid;Ali Harraj;Mehdi Tazi Which segments offer the most potential to extend insurance penetration in Morocco? ZOUHEIR BENSAID: Small and medium-sized enterprises (SMEs) represent more than 80% of the 750,000 private companies that compose 94% of the nation’s economic fabric. This segment has strong growth potential, since it is considered less volatile, is less exposed to price fluctuations and is more likely to be profitable over the long term. Another…

Analysis

Morocco establishes new rules to address exposure to equity market
OBG
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The Moroccan insurance industry is one of the kingdom’s largest sectors of institutional investors. It is heavily invested in local equities, which has given rise to concerns that this is exposing it to high levels of risk. However, plans to gradually introduce new solvency regulations should mitigate this by making insurers choose between putting up additional capital to cover the risks or reducing their equity holdings. Sector investments are likely to have performed well in 2014 and should have…