Trade agreement paves the way for US entry from 2010

Bancassurance has now developed as a major sales method because of the strong ownership ties existing between banks and insurers. In 2006 more than 63% of new life and capitalisation business was sold by bancassurance. There are some fears that banks can sell life insurance with little effort almost by inertia. Customers do not always understand that they may have given agreement to the deduction of life insurance premium from the balance of a new deposit account

The Moroccan life insurance market has now consolidated after several mergers of leading companies. Banks are increasingly involved in insurance now that the legislation on bancassurance is finalised. They are restricted to selling insurance of persons (namely life, savings and accident) as well as assistance and credit business.