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Apr 2025

Morocco: Insurance federation head urges single African market

Source: Middle East Insurance Review | Apr 2025

Moroccan Insurance Federation (FMA) president Mohammed Hassan Bensalah, has advocated the establishment of a single insurance market in Africa.
 
Mr Bensalah said, “We will benefit from being united and supportive in order to strengthen our capacity to effectively cover African risks. It is time to adopt a more ambitious vision and chart the course towards a single insurance market in Africa.”
 
He made this call at a conference organised by FANAF (Federation of African National Insurance Companies) as part of its 46th general assembly that took place in February in Marrakech, Morocco, according to local media reports. 
 
More than 1,500 industry professionals gathered to discuss the challenges and prospects of the insurance sector on the continent. Organised in partnership with the FMA, the conference had for its theme ‘What levers for an inclusive and sustainable development of insurance in Africa?’
 
Mr Bensalah added that the creation of a single insurance market in Africa would be based on collaboration, innovation and the harmonisation of regulatory frameworks.
 
On his part, FANAF president Cesar Ekomie Afene, welcomed the involvement of Morocco and its financial players in the development of pan-African insurance solutions. “Morocco is an example of dynamism and a pan-Africanist vision in the insurance sector,” he said, stressing the importance of digitalisation and microinsurance in meeting the needs of Africa’s population. M 
 
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