LONDON--(BUSINESS WIRE/AETOSWire)-- Despite their geographic proximity and many
commonalities, the insurance markets of Morocco, Algeria and Tunisia have significant
differences – economic, demographic and cultural. A new AM Best report, “The Maghreb – One
Region, Three Unique Insurance Markets,” examines the long-term prospects of the three
insurance markets of the Maghreb region.
Over the past five years, all three Maghreb insurance markets have demonstrated solid growth
trajectories, above global market averages. That trend is expected to persist, despite the near-
term challenges of the COVID-19 pandemic and the associated economic downtown.
However, AM Best in its Best’s Market Segment Report notes there are numerous challenges in
the short- to medium-term, which have the potential to limit the region’s insurance expansion.
These challenges include political and economic pressures, the population’s negative perception
of insurance and the evolving nature of regulatory and governance frameworks. In addition, the
COVID-19 pandemic, and its knock-on effects on financial markets and economies worldwide,
is expected to adversely impact the growth prospects of local insurers in the near term.