This dynamic is driven by both the “Life” activity and the “Non-Life” activity.
With: The situation at the end of September 2024 shows an increase of 4.8% in premiums issued for the first nine months of the year. These amount to 45 billion dirhams, including 12.38 billion dirhams generated for the third quarter.
The insurance sector performed well in the third quarter of the year. The indicators turn green. This is what we can observe from the latest statistics provided by the Insurance and Social Security Control Authority (ACAPS). The situation at the end of September 2024 shows an increase of 4.8% in premiums issued for the first nine months of the year. These amount to 45 billion dirhams, including 12.38 billion dirhams generated for the third quarter. This dynamic is driven by both the “Life” activity and the “Non-Life” activity.
Regarding “Life” premiums, they stood at 19.64 billion dirhams at the end of September 2024, marking an increase of 4.1%. In this sense, we note 16.18 billion dirhams in “Epargne-support dirhams” premiums. The latter improved by 3.3%. “Death” premiums for their part amounted to 2.59 billion dirhams, up 4.8%. “Savings unit-linked” premiums rose by 17.7% to reach 861.5 million dirhams. Regarding the “Non-Life” branch, the figure achieved for the first nine months of the year is estimated at 25.36 billion dirhams, an increase of 5.3%. The majority of these premiums are borne by “automobile” insurance. To this end, we note a total of 11.83 billion dirhams, an increase of 5.7% compared to the same period last year. In detail, premiums relating to Civil Liability reached 9.71 billion dirhams, increasing by 5.3% year-on-year.
Furthermore, “Personal accident” premiums reached 4.3 billion dirhams at the end of September 2024, thus consolidating by 5.5% compared to the previous year. In this regard, health insurance generated premiums of around 3.67 billion dirhams (+5.7%). Regarding “Fire” insurance, the premiums issued at this level marked an increase of 7.5%, reaching 2.13 billion dirhams. In terms of “assistance”, premiums were around 1.3 billion dirhams at the end of September, an improvement of 4.2%. It should be remembered that in the 3rd quarter of the current year, Life premiums amounted to 5.86 billion (+1.7%). Non-Life premiums, for their part, showed an increase of 6.1%% compared to the third quarter of 2023 to stand at around 6.51 billion dirhams. Among the indicators noted by ACAPS at the quarterly level, we observe an increase of 3.3% in benefits paid.
These were established in the third quarter of 2024 at around 8.7 billion dirhams. Likewise, acquisition and management expenses increased by 2.8%, or a total of 23 billion dirhams. As for allocated investments, they consolidated by 2.3% to reach 217.5 billion dirhams. Interest rate assets and equity assets represent respectively 49% and 43% of these investments compared to a share of 5% for real estate.
