Morocco’s insurance market opened 2026 with robust momentum, recording total premiums of 21.3 billion dirhams in the first quarter — a 17.2% increase on the same period in 2025, according to data published by the Insurance and Social Welfare Supervisory Authority (ACAPS).
The life insurance segment was the primary driver of growth, with premiums rising 37% to reach 8.2 billion dirhams. Unit-linked savings contracts were particularly dynamic, with premiums surging 385.9% to nearly 1.9 billion dirhams, reflecting growing appetite for diversified savings vehicles. Dirham-denominated life products also expanded, rising 13.4% to 5.2 billion dirhams, while individual death-cover contracts advanced 6.8% to exceed 1 billion dirhams.
Non-life insurance posted more moderate growth of 7.5%, generating 13.1 billion dirhams. Motor insurance remained the segment’s main pillar at 5.8 billion dirhams, up 10%, with third-party liability contributing 4.6 billion dirhams. Among standout performers, technical risk insurance surged 41.9%, credit-guarantee cover rose 26.7%, and general civil liability advanced 11%. Transport insurance was the principal contraction, declining 3.7%.
Total benefits and expenses paid reached 10.5 billion dirhams, up 4.6%, with the life segment posting a 17.4% rise against a 4.4% decline in non-life. Managed investments held by insurance companies reached 239.4 billion dirhams, a 2.9% gain, with rate assets and equities accounting for 90% of the portfolio. Deposits in non-available accounts rose sharply by 54%, consistent with the expansion in unit-linked contracts. The figures confirm the sector’s growing centrality within Morocco’s broader financial ecosystem.
