Bancassurance: activity up 16.5% in 2021 (ACAPS)

The Insurance and Social Welfare Supervisory Authority ACAPS. DR

The bancassurance activity recorded growth of 16.5% in 2021 with a premium volume of 16 billion dirhams (MMDH), indicates the Insurance and Social Welfare Supervisory Authority (ACAPS).

Thus, the volume of insurance premiums drained by the banking network, finance companies and micro-credit associations amounted to 16 billion dirhams, against 13.7 billion dirhams in 2020, specifies ACAPS.

Life and capitalization insurance continue to dominate this activity with production of 15.3 billion dirhams, representing 95.3% of bank insurance inflows.

As for the other segments, made up of assistance and illness and bodily accidents, their contribution remains moderate with a share of 4.7% and a volume of insurance premiums of 746.9 million dirhams (MDH), know ACAPS.

The banking sector remains the most dynamic in the distribution of insurance products since it captures 16 billion dirhams of premiums and concentrates 99.7% of the contribution in bancassurance, at a time when financing companies and micro-credit associations only generate 44.7 MDH.

Compared to other distribution channels, bancassurance maintains its market share estimated at 30% and thus represents the second distribution channel ahead of insurance brokers (32.6%). Finally, the commissions served as remuneration for the bancassurance activity amounted to 537.1 million dirhams, up 16.3%, concludes ACAPS.

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