Insurance

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.