Sanlam Maroc said its profit went up in 2025 even though its overall sales dipped slightly, after the insurer changed its strategy to focus on more profitable life insurance products.
The company made about 6.2bn dirhams in revenue for the year, a small fall compared with 2024. It said this was expected because it has been reshaping its life insurance business, while its non-life products continued to perform well.
Sales in the last three months of the year reached 1.34bn dirhams, showing only a small decline and suggesting the transition is under control.
Net profit rose to 451m dirhams, up nearly 8% from the previous year. Money invested to back insurance policies grew to almost 18bn dirhams by the end of December, while the amount set aside to cover future claims stayed stable.
The company’s total equity climbed to more than 5.4bn dirhams, strengthening its finances as Morocco prepares new insurance rules.
Sanlam Maroc plans to propose a dividend of 98 dirhams per share, up from 81 dirhams last year.
The insurer, previously called Saham Assurance, is mainly owned by South Africa’s Sanlam Group and Morocco’s Sanam. It holds about 16.8% of the non-life insurance market and competes closely with Wafa Assurance.
The wider Moroccan insurance market grew by around 8% in 2025, driven by life insurance.
