Morocco’s insurance market: what the new dynamics mean for your plans

This update focuses on Morocco insurance market. Morocco’s insurance market continued to grow in the second quarter of 2026, crossing 17.6 billion dirhams in premiums but moving at different speeds across business lines.

A growing but increasingly complex Morocco insurance market

According to the latest figures from the Insurance and Social Welfare Supervisory Authority (ACAPS), premiums written by insurance and reinsurance companies reached 17.62 billion dirhams in Q2, a 5.4% increase compared to the same period in 2025.

The Morocco insurance market is still driven by life insurance, savings products and several non-life branches. At the same time, benefits paid out are declining, while acquisition and management costs keep rising.

For Moroccans living abroad who already hold contracts in Morocco or are considering an investment, this means a more technical environment where it is crucial to examine product conditions carefully.

Life insurance: traditional savings slow, unit-linked contracts surge

Life insurance remains the main engine of the market, with 9.37 billion dirhams in premiums and annual growth of 5.2%. But its internal structure is shifting.

Dirham-denominated savings products still dominate the segment, with 7.64 billion dirhams in premiums, yet they grew by only 1.3% year-on-year. In contrast, unit-linked contracts have seen spectacular acceleration, showing a growing appetite for products more exposed to financial markets.

For a Moroccan abroad preparing retirement in the country or planning to place part of their savings in dirhams, this shift has several implications:

• traditional dirham products remain stable but less dynamic;
• unit-linked policies offer more potential, but with higher risk;
• comparing fees and investment strategies before signing becomes essential.

This change in savings behaviour confirms that the Morocco insurance market is getting closer to patterns seen in many destination countries of the Moroccan diaspora.

Non-life cover and travel to Morocco: contracts to monitor

Several non-life insurance branches are also performing well. They directly affect daily life for residents in Morocco, and for those who travel back frequently, through car, home or health policies.

Rising premiums, combined with higher operating costs, may put pressure on prices, while the decline in benefits paid out makes it even more important to scrutinise real coverage and exclusions.

For Moroccans abroad who drive a car registered in Morocco, own a rental or family property, or take out local health coverage for long stays, this means they should:

• renegotiate contracts on a regular basis;
• check reimbursement limits and deductibles;
• ask for written simulations before changing insurer or package.

Sector investments and long-term confidence

On the asset side, investments held by the sector remain close to 238.4 billion dirhams, despite a slight contraction compared to the end of the first quarter. This overall stability is an important factor for long-term confidence in the system.

For families living between Morocco and other countries, life insurance and certain savings products remain tools to prepare inheritance, fund a return, or support a property project. But the current evolution makes it necessary to move beyond a purely “product-based” approach and think in terms of an overall financial strategy.

Before committing significant amounts, it is advisable to:

• consult an independent adviser or a notary in Morocco;
• check that the investment horizon matches the chosen product;
• follow ACAPS updates and official institutions to better understand the risks.

The new configuration of the this case offers opportunities, but it also demands greater vigilance from policyholders, both in the country and abroad.

For more context, readers can follow Canal212 news for Moroccans abroad.

For official updates, readers can check the relevant official source.