The Moroccan insurance and reinsurance market has recorded significant growth, with total premiums exceeding 32.62 billion dirhams (MMDH) in the first half of 2024. This represents a 5.1% increase compared to the same period in 2023, according to data released by the Autorité de Contrôle des Assurances et de la Prévoyance Sociale (ACAPS).
The report highlights that premiums are evenly split across both the “Life” and “Non-Life” insurance sectors, each showing a 5.1% rise. Life insurance premiums reached 13.78 MMDH, while Non-Life premiums amounted to 18.84 MMDH.
In the Life insurance sector, the “Death” segment saw a 2.8% increase, reaching 1.82 MMDH, and the “Savings in Dirhams” category grew by 5.7%, reaching 11.41 MMDH. The “Savings in Unit-Linked Products” segment also experienced a modest 1.4% rise, reaching 543.5 million dirhams (MDH).
On the Non-Life side, automotive insurance, a key driver of the industry, saw premiums surpass 8.66 MMDH, marking a 5.6% increase. However, the sector also faced challenges, with technical risks seeing a significant 24.1% drop to 201.5 MDH.
Additionally, ACAPS reported an 8.6% rise in reinsurance acceptances, reaching 498.1 MDH, reflecting the sector’s increasing diversification and strategic role in the global market.
