Insurance
From The Report: Morocco 2019
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Building on several years of sustained growth, Morocco’s insurance sector is implementing a series of significant reforms that appear set to boost future expansion. New rules have changed key aspects of insurance distribution and established a range of new compulsory products that are set to boost the overall issuance of premiums. In addition, these reforms are expected to expand the country’s product offering, including the creation of a takaful (Islamic insurance) segment. Morocco already has one of the best-developed insurance markets in the region and these changes – bolstered by an increase in competition in the life insurance segment – should help to support sustained sectoral performance over the medium and long term. This chapter contains interviews with Hassan Boubrik, President, Supervisory Authority of Insurance and Social Welfare; and Coenraad Vrolijk, Regional CEO, Allianz Africa.

Articles from this Chapter

Overview

New perspectives: Regulatory reforms increase market competition and expand the product offering in a buoyant industry
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Building on several years of sustained growth, Morocco’s insurance sector is implementing a series of significant reforms that appear set to boost future expansion. New rules have changed key aspects of insurance distribution and established a range of new compulsory products that are set to boost the overall issuance of premiums. In addition, these reforms are expected to expand the country’s product offering, including the creation of a takaful (Islamic insurance) segment. Morocco already…

Interview

Good governance: Hassan Boubrik, President, Supervisory Authority of Insurance and Social Welfare, on how the new regulatory framework is set to positively shape the sector
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Interview:Hassan Boubrik What are the main trends in the local sector? HASSAN BOUBRIK: The domestic market is evolving in a very positive trend, with growth of 10.9% in 2017, excluding reinsurance. The life segment drove this trend, growing 18.8%, supported by the arrival of a new player – Taamine Chaabi – which helped to boost the product line over the last couple of years. Meanwhile, the non-life segment experienced growth of 5.5% in 2017, and the net profit of insurers increased by…

Interview

Integration challenges: Coenraad Vrolijk, Regional CEO, Allianz Africa, on opening up the continent to bilateral trade and insurance opportunities
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Interview:Coenraad Vrolijk Could Casablanca become a regional hub for insurance and financial services in the near future? COENRAAD VROLIJK: Casablanca could become the gateway to Africa for companies operating in the financial sector. It is well placed to fill this role, being geographically close to Europe, with 10 daily flights to Paris alone. However, the continent still faces integration challenges that makes setting up any hub in Africa, whether in Johannesburg, Nairobi or Casablanca,…

Overview

Digital disruption: InsurTech taps premium growth potential in emerging markets
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Two of the biggest recent trends in global insurance are premium growth in emerging markets and the rising importance of technology across the supply chain. The latter has come to be referred to as InsurTech, which heralds both threats and opportunities for incumbents and newcomers alike. While technological solutions are being applied along the length of the insurance supply chain in advanced markets, their focus in emerging markets has primarily been on driving premium growth. Stronger growth in emerging and developing economies since 2000 has given rise to a swelling middle class. Meanwhile, many lower- and some middle-income countries…