Strategic Management Control Practices in African Insurance Subsidiaries: Insights from Moroccan Insurance Companies

Abstract

This article provides a comprehensive analysis of how Moroccan insurance companies implement strategic management control systems within their African subsidiaries. It highlights the Balanced Scorecard (BSC) as not only a strategic tool but also as an operational monitoring framework for key financial indicators including Value of New Business (VNB), Annual Premium Income (API).

Strategic planning reviews (PS reviews), conducted semi-annually, and strategic budgets serve as complementary instruments that align group strategies with local realities while ensuring financial discipline. Drawing on established theoretical frameworks (Kaplan & Norton, 1992, 2001, 2004; Simons, 1995; Otley, 1999), the article demonstrates how these tools are adapted in African contexts to balance global strategic coherence and local responsiveness. The findings reveal that while financial perspectives dominate, interactive mechanisms such as workshops and PS reviews create space for adaptation and dialogue. The paper contributes theoretically by contextualising MCS practices in African insurance markets and practically by offering recommendations to enhance strategic alignment and performance measurement in multinational insurance companies.