Insurance

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.