Moroccan Insurance Industry is One of the Largest in the Arab Region

Date: 2015-09-17

“• The Moroccan insurance industry is one of the largest in the Arab region, and the second-largest in Africa.

• The Moroccan government introduced multiple insurance reforms during the review period to develop a favorable environment for foreign investors and insurers.

• The government has introduced reforms to improve efficiency and effectiveness in the public healthcare system. However, there are wide disparities in terms of access to healthcare. The Ramed project was launched in 2008 to serve those not eligible for compulsory health insurance. Around 5.1 million people, approximately 15% of the population, were covered by Ramed by the end July 2013.

• High unemployment is a challenge to the Moroccan economy.

• The high rates of unemployment are expected to raise poverty and income inequality, which may impact the insurance industry, as unemployed people tend to be less inclined to invest in financial products.”

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