Morocco: Resilient insurance sector maintains positive momentum
Source: Middle East Insurance Review | Sep 2025
The Systemic Risk Coordination and Monitoring Committee (CCSRS) says that stress test exercises have highlighted the overall resilience of insurance companies to adverse macroeconomic and technical conditions.
According to an official media statement, the insurance sector maintained positive momentum, with overall revenue increasing by 5.1% to MAD58.8bn ($6.54bn) in 2024. This growth was evenly distributed between the non-life sector (+5.2%) and the life sector (+5%). The life sector returned to a more sustained growth rate after a sharp deceleration observed a year earlier.
In terms of profitability, the sector generated a net accounting profit of MAD4.4bn, up by 2.9% compared to 2023. This increase is mainly attributable to the performance of non-technical and financial activities driven by a favourable financial environment. Unrealised capital gains increased significantly (+70.7%) in the wake of the strong stock market and falling interest rates. This contributed to the improvement in the sector’s solvency margin, which reached 354.7% as of the end of 2024 compared to 330.4% a year earlier.
Furthermore, stress tests highlighted the overall resilience of insurance, said the statement. M