LONDON-Tuesday 25 August 2020 [ AETOS Wire ]
(BUSINESS WIRE)-- 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.
To access the full copy of this report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=300506.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright © 2020 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200825005297/en/
Contacts
Charlotte Vigier
Senior Financial Analyst
+44 20 7397 0270
charlotte.vigier@ambest.com
Alex Rafferty, ACA
Associate Director, Analytics
+44 20 7397 0312
alex.rafferty@ambest.com
Richard Banks
Director, Industry Research – EMEA
+44 20 7397 0322
richard.banks@ambest.com
Edem Kuenyehia
Director, Market Development &
Communications
+44 20 7397 0280
edem.kuenyehia@ambest.com
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