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Morocco

Life Report

Product Insurance Market Reports Life Rev Morocco

Key Highlights

Get access to Axco’s online product with the latest market intelligence for the market of your choice

 

  • Key insights and explanations of market developments in life insurance, healthcare and pensions
  • Details Morocco's insurance, social security, pensions and healthcare regulatory framework and company and personal tax considerations
  • Current legislation and upcoming changes
  • The latest developments in Morocco's economic and political environment
  • Demographic information
  • Market statistics and company performance

Report Overview

Independent strategic insight, line of business detail, regulatory information & market data for the non-life (P&C) insurance market of Morocco

The Morocco life and benefits market report provides a comprehensive, impartial analysis of the life insurance market of Morocco. Information extends to extensive detail on healthcare (public and private), pensions and benefits, and social security. Specialist researchers visit Morocco and interview local professionals working across the local market. The report is updated with new information and data regularly throughout the cycle of country visits.

The report provides information about Morocco’s demographic profile and assesses its economic, political, climate, operational, and security risks. Key data on the investment environment in Morocco is available.

Axco’s report describes the regulatory framework that applies to the Moroccon domestic life insurance sector, including whether non-admitted insurance is permitted in Morocco; as well as the legislation necessary to know regarding Morocco’s healthcare, pensions and social security.

Statistics include five years of life insurance market performance indicators, including gross written premiums, premium growth and penetration rates. Company statistics show who are the leading life insurance companies in Morocco with local life insurance company premiums, market share and year on year growth.

Life Insurance

Axco provides details on the life insurance sector including Moroccan market participants, reinsurance and distribution channels. The reports describe classes of business from both individual and group life such as whole life, endowment, term life and unit-linked.
Information on non-life classes for example critical illness and private medical insurance.

Healthcare

The report describes the public and private healthcare system in Morocco, the scope of cover, accessibility financing and provides an analysis of how the public and private systems complement each other.

Pensions

Axco reports on the three pillars of Moroccan pension provision.

  • State pension benefits including benefit calculations and eligibility criteria 
  • Workplace pension provision; types of schemes calculations eligibility and; tax implications
  • Voluntary individual pension provision, type of products and tax implications

Social Security

The Morocco report provides an in-depth analysis of the regulatory framework governing social security as well as details on financing and eligibility. Information includes but is not limited to

  • state pensions,
  • permanent disability benefit
  • occupational accident and disease
  • maternity and paternity payments 

Morocco Life and Benefits Report Extract

Below are brief extracts of information from the Morocco Life & Benefits Report; more updated information may be available in the latest published report.

Life Insurance

The life insurance market grew dynamically in the four years up to 2020, when as a result of the COVID-19 pandemic, growth slumped to close to zero (-0.33%). Due to the COVID-19 pandemic real GDP is forecast to reduce by 6.97%, but with a return to growth forecast in 2021 and 2022 of 3.70% and 3.32% respectively.

The rate of inflation was forecast to be 0.71% in 2020 and ....

Pensions

The life insurance market (which includes products aimed at providing pension income supplementary to the state scheme) grew dynamically in the four years up to 2020, when as a result of the COVID-19 pandemic, growth slumped to close to zero (-0.33%). Due to the COVID-19 pandemic real GDP is forecast to reduce by 6.97%, but with a return to growth forecast in 2021 and 2022 of 3.70% and 3.32% respectively ....

Healthcare

The business is written in the non-life account and is principally composed of group policies taken out as an employee benefit.

When the state healthcare system (AMO) was established in 2006 the government allowed contributing employers previous to the date of establishment of AMO to continue to buy full coverage group private medical insurance/PMI (written by non-life insurers) as an alternative to the AMO system ....

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