Insurance
From The Report: Morocco 2020
View in Online Reader

In recent years Morocco’s insurance sector has consolidated its strong position, with the growing middle class, tax advantages and fierce competition between bancassurers giving a notable dynamism to the life insurance segment. Morocco is the second-largest insurance market in Africa in terms of gross premium, and ranks highly for both insurance density and penetration. Furthermore, regulatory reforms are helping to cement the strong financial position of insurance players and broaden the range of obligatory and discretionary insurance products available. As the insurance sector matures, its players are increasingly looking to international markets to grow their businesses. This chapter contains an interview with Ramses Arroub, CEO, Wafa Insurance.

Articles from this Chapter

Overview

Controlled growth: An updated regulatory framework expands scope of mandatory coverage and lays the foundation for Islamic insurance products
OBG
plus

In recent years Morocco’s insurance sector has consolidated its strong position, with the growing middle class, tax advantages and fierce competition between bancassurers giving a notable dynamism to the life insurance segment. Morocco is the second-largest insurance market in Africa in terms of gross premium, and ranks highly for both insurance density and penetration. Furthermore, regulatory reforms are helping to cement the strong financial position of insurance players and broaden the…

Interview

Expanding coverage: Ramses Arroub, CEO, Wafa Insurance, on strengthening the market to meet new international standards
OBG
plus

Interview:Ramses Arroub How should the market be modernised in order to meet Solvency II standards? RAMSES ARROUB: The proper functioning of the Solvency II Directive 2009 regulatory standards depends on two main pillars, namely good governance and capital requirements. The implementation of a proper governance scheme is the best protection against any internal business risk. This means creating and relying on supervisory boards, audit committees, well-oiled compliance and risk-management…

Overview

Premium protection: As the risk of data theft continues to rise, the cyberinsurance segment is poised for significant growth
OBG
plus

With the world digitalising at an increasing rate, the threat of cybercrime has risen dramatically in recent years, and emerging markets are no exception. While the shift towards online platforms – along with the development of the internet of things, smart cities and blockchain technology – is generating significant opportunities for wealth creation and helping to raise efficiency, it is also creating a new set of complex challenges for governments, businesses and individuals. Cybercrime The widespread nature of cyberthreats has led to a considerable increase in the resulting cost of cybercrime. In 2015 UK bank Lloyd’s estimated…

Overview

Premium protection: As the risk of data theft continues to rise, the cyberinsurance segment is poised for significant growth
OBG
plus

With the world digitalising at an increasing rate, the threat of cybercrime has risen dramatically in recent years, and emerging markets are no exception. While the shift towards online platforms – along with the development of the internet of things, smart cities and blockchain technology – is generating significant opportunities for wealth creation and helping to raise efficiency, it is also creating a new set of complex challenges for governments, businesses and individuals. Cybercrime The widespread nature of cyberthreats has led to a considerable increase in the resulting cost of cybercrime. In 2015 UK bank Lloyd’s estimated…