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Tuesday, May 21, 2024

Insurance: 8.5% Increase in Premiums in 2022 – ACAPS

Premiums written by all insurance and reinsurance companies, except for exclusive reinsurers and Takaful insurers, have reached 54.5 billion dirhams in 2022, up 8.5% compared to the previous year.

The “Life” branch recorded an increase of 10.7% to 25.4 billion dirhams and the “Non-life” branch totaled 29.1 billion dirhams, up 6.7%, said the Insurance Supervisory Authority and Social Security (ACAPS) in its annual statistics for the year 2022.

At the level of the branch “Life”, the segment “Savings-dirhams” increased by 16.3% to 20.95 MMDH while the segments “Death” and “Savings-support units of account” decreased respectively by 0.1% to 3.21 billion dirhams and 28% to 1.23 billion dirhams.

In the “Non-life” branch, the Authority also reported a rise in “Motor” premiums of 5.7% to 13.72 billion dirhams and “Bodily injuries” also of +5.7% to 5.04 billion dirhams.

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