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The Supervisory Authority of Insurance and Social Welfare (ACAPS) has published its data on the Moroccan bancassurance market for the 2024 financial year.
Bancassurance activity closed the year with a turnover of 20.5 billion MAD (2 billion USD), marking a 6.6% increase from the 19.2 billion MAD (1.9 billion USD) recorded in 2023.
The market remains overwhelmingly dominated by the life and capitalization business, which accounted for 96.1% of premiums written by bancassurance companies. This was followed by assistance, representing 3.4%, and health and accident insurance, at 0.5%.
As of 31 December 2024, bancassurance accounted for 31.9% of the Moroccan insurance market, compared with 30.4% for brokerage.