Algeria & Morocco Insurance Q1 2020
Morocco's insurance market is one of the most developed in the Middle East and Africa region, and the outlook for thelife and non-life sectors is positive. A return to robust economic growth from 2017, alongside a stable fiscal situation andexpectations the currency will strengthen, feed into quite bullish forecasts for the market, particularly for the non-life sector.Morocco's life sector still has potential, and the overall sector has been boosted after it was named among Africa's top three fastgrowing reinsurance markets. The prospects for Algeria's underdeveloped life insurance market are less attractive, although far fromnegative. Currency weakness and government austerity look likely to cap premium growth at the mid-single digits in local currencyterms, and low single digits in USD terms. However, that might change in the near future.
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