The Moroccan insurance and reinsurance sector saw 17.2% year-on-year growth in the first quarter of this year, with premiums standing at MAD21.3bn ($2.3bn), according to the Insurance and Social Security Supervisory Authority (ACAPS).
The increase is largely driven by a 37% growth year on year in life insurance premiums, which totalled MAD8.2bn. In the non-life insurance sector, premiums rose by 7.5% year on year to reach MAD13.1bn.
Broken down, life insurance growth was supported by unit-linked savings, which nearly quadrupled to MAD1.93bn. Savings insurance grew by 13.4%, while the death benefits segment increased by 6.8%.
On the non-life insurance front, growth was highest in technical risks, which saw an increase of over 40%, followed by surety credit at 36.7%, while motor insurance rose by 10%.
In addition, insurance and reinsurance companies paid out a total of MAD10.5bn in benefits and claims, representing a 4.6% increase. Of this total, MAD4.88bn was paid by the life insurance segment, while MAD5.61bn was generated by the non-life segment.
Meanwhile, the sector’s allocated investments rose to MAD239.4bn as of 31 March 2026, marking a 2.9% increase compared with December 2025. The portfolio remains heavily weighted towards fixed-income instruments, which account for 47% of total investments, followed by equities at 43%, real estate at 6%, and other assets at 4%.
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Business Line
(Figures in MAD m unless otherwise stated)
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Premiums (1Q 2026)
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Change (vs 1Q 2025)
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Life
|
8,202.0
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37.0%
|
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Savings insurance
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5,207.8
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13.4%
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Death / Term Life
|
1,060.7
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6.8%
|
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Unit-Linked Savings
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1,933.6
|
385.9%
|
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Acceptances
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0.0
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0.0%
|
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Non-Life
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13,115.5
|
7.5%
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Catastrophic Events
|
277.5
|
7.4%
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Bodily Injury / Accidents
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1,673.3
|
8.6%
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of which Health
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1,431.0
|
9.2%
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-Workplace Accidents (AT & MP)
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1,502.9
|
4.7%
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-Automobile
|
5,839.3
|
10.0%
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- -of which Third Party Liability (RC)
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4,592.6
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8.6%
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General Civil Liability (RC Générale)
|
401.1
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11.0%
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Fire
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1,365.0
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0.8%
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Technical Risks
|
222.0
|
41.9%
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Transport
|
286.6
|
-3.7%
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Assistance
|
883.3
|
6.7%
|
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Credit-Surety
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103.8
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26.7%
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Acceptances
|
368.2
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13.5%
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Other Operations
|
192.5
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-24.3%
|
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Total
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21,317.6
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17.2%
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Source: ACAPS
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