Morocco

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.

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.

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

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 

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 ....

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 ....

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 ....