The Moroccan insurance market posted a 5.5% increase in revenue to MAD18.2bn ($1.98m) in the first quarter of 2025, according to the Insurance and Social Security Supervisory Authority (ACAPS).
This performance was driven by the strength of the life segment, particularly unit-linked savings, and motor insurance.
Life premiums increased by 8.7% y-o-y to MAD5.98bn. Premiums from unit-linked savings plans jumped by 68.2% to MAD397.9m. Savings insurance, the segment's historical driver, recorded a 6.9% increase to MAD4.59bn. In addition, death protection insurance posted moderate growth of 2.3% to MAD993.4m.
Non-life insurance
The non-life market posted combined premiums of MAD12.2bn in 1Q2025, up by 3.9% compared to the first quarter of 2024. Motor, which represents the segment's largest branch, grew by 4.7% to MAD5.31bn in 1Q2025. This included MAD4.23bn of premiums for auto third-party liability insurance, which grew by 3.9% year on year.
Total benefits and expenses paid by the insurance industry amounted to MAD10.03bn in 1Q2025, up 6.9% year-on-year.
A summary of the premium revenue in the Moroccan insurance market in 1Q2025 is as follows:
|
Branch
|
1Q2025 Premiums (MAD bn)
|
1Q2024 Premiums (MAD bn)
|
Change
|
|
Life (33% of total)
|
5.98
|
5.50
|
+8.7%
|
|
Savings plans
|
4.59
|
4.30
|
+6.9%
|
|
Death protection plans
|
0.99
|
0.97
|
+2.3%
|
|
Investment-linked plans
|
0.40
|
0.23
|
+68.2%
|
|
Non-life (67% of total)
|
12.2
|
11.7
|
+3.9%
|
|
Total
|
18.2
|
17.2
|
+5.5%
|
|
Source: ACAPS
Figures exclude data from reinsurance companies and takaful operators
|