Country Dashboards

36 mn
US$131 bn
Inflation rate

Insurance Premiums

Total Premiums
Insurance market data
Life premium volume (USD) 783 mn
Non-life premium volume (USD) 2 bn
Total premium volume 3 bn
Total premium volume (MAD) 22 bn
Insurance penetration: Premiums in % of GDP 2.77%
Insurance density: Premium / capita USD 80.2
Local currency MAD
Market Composition
Domestic life insurers 1
Domestic non-life insurers 3
Domestic composite insurers 3
Foreign life insurers 1
Foreign non-life insurers 0
Foreign composite insurers 3
Domestic reinsurers 1
Foreign reinsurers 1
State-owned insurers 0
State-owned reinsurers 1
Insurance intermediaries 2128
Reinsurance intermediaries 5
Insurance Regulatory Authority
Avenue Al Araar, Hay Riad, 10000, Rabat.

Regulatory Provisions

Scope of insurance regulation and supervision
Overarching principle in insurance supervision Financial supervision
Requirement for minimum insurance rates Yes
Cross-border insurance allowed Yes
Bancassurance is allowed Yes
Allowed ownership structures Stock Companies, Mutuals
Foreign ownership restrictions Yes
Minimum capital requirement 50000000
Minimum paid-up share capital 50000000
Requirement for independent audits Yes
Requirement to appoint actuaries Yes
Premium rate approval needed Yes
On-Going Supervision
Solvency referred to as the difference between assets and liabilities Yes
RBC (Risk-based capital) principles applied Yes
Ceded reinsurance is regarded as a permissible asset Yes
Compulsory insurance lines MOTOR TPL
Compulsory reinsurance cessions No
Insurance companies in difficulties
Established guarantee or policyholder protection fund Yes
The Africa Re office that supports this location is: