🇲🇦MoroccoNorth Africa
Moroccan insurance sector doubles revenue in 10 years, new development phase on the horizon
via Le Matin6 min read
The 12th Casablanca Insurance Rendezvous, organized by the Moroccan Insurance Federation FMA, convened 1,100 industry professionals and partners, including 240 international participants. Mohamed Hassan Bensalah, President of the FMA, and Abderrahim Chaffai, President of the Insurance and Social Welfare Supervisory Authority Acaps, delivered opening remarks, alongside Sayyid Nassir Bin Salim Al Busaidi, President of the Oman Insurance Association, as Oman was the featured country. Abderrahim Chaffai highlighted the Moroccan insurance market's significant growth, with total revenue more than doubling in ten years to 67.6 billion dirhams in 2025. The sector's balance sheet exceeds 331 billion dirhams, technical provisions are over 240 billion dirhams, and benefits paid to policyholders reached nearly 56 billion dirhams in 2025. Moroccan insurers are also major institutional investors, with allocated investments surpassing 244 billion dirhams, contributing to national economic financing. Despite these achievements, Chaffai noted room for improvement in penetration rates and insurance inclusion. Takaful insurance premiums reached 141.9 million dirhams in 2025, a nearly 50% increase from 2024. A key announcement was the proposed amendment to Book IV of the Insurance Code, which has been submitted to the General Secretariat of the Government for adoption. This reform aims to modernize the regulatory framework, addressing digital distribution, new channels, and the role of intermedi
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Must ReadFollowing an attack near Es-Smara prison, the United States Mission to the United Nations released a statement on May 6, denouncing the violence and asserting that the status quo cannot continue. France, through its UN representation, reiterated on May 7 that the autonomy initiative under Moroccan sovereignty is the only basis for a just and lasting peace, urging the Polisario to respect the ceasefire and UN resolutions. On May 8, during the 70th anniversary of diplomatic relations, Japan explicitly endorsed the concept of "autonomy under Moroccan sovereignty" in a joint communiqué signed by Nasser Bourita and his Japanese counterpart, Toshimitsu Motegi. Japan also committed to diplomatic and economic action based on Security Council Resolution 2797 and called for all parties to participate in discussions without preconditions, aligning with the Moroccan plan. This follows Japan's previous stance at the 9th Tokyo International Conference on African Development, where it clarified that the presence of an unrecognized entity would not affect its position. This shift is part of a broader trend, including Mali's withdrawal of recognition for the SADR on April 10, with its Minister Abdoulaye Diop calling the Moroccan plan the only serious and credible basis for resolution. Bolivia had also suspended its recognition of the SADR weeks prior. Switzerland, the European Union, Canada, and Zambia have also adopted positions supporting the autonomy plan, citing the same UN resolution. Th
Morocco and Japan recently commemorated 70 years of diplomatic relations, reaffirming the strong bilateral ties between His Majesty King Mohammed VI and His Imperial Highness Emperor Naruhito. This milestone underscores a shared ambition to establish Rabat-Tokyo as a pillar of stability and growth, addressing global challenges with agility and solidarity. The two nations' ministers signed a joint communiqué, serving as an operational roadmap for the "Cooperation Memorandum for a Strengthened Partnership" signed in Tokyo in 2024. This communiqué institutionalizes strategic dialogue through regular political consultations to enhance coordination between their ministries. Both ministers expressed a firm determination to intensify high-level exchanges and promote cooperation across various sectors via the Morocco-Japan Joint Committee. This qualitative leap in relations structures bilateral priorities around robust, diversified, and multidimensional cooperation. Special attention will be given to cultural cooperation and people-to-people exchanges. In development cooperation, opportunities for triangular collaboration between Morocco, Japan, and partner African countries were explored, with a commitment to sustained high-level visits for follow-up. To celebrate this jubilee and in anticipation of the 2026 World Cup, in which both countries will participate, the ministers symbolically exchanged national football team jerseys, each bearing the number 70. Japan's minister congratula
Must ReadThe European Union's Ambassador to Morocco, Dimiter Tzantchev, stated on Friday that "it is not time to escalate, but to negotiate," referencing UN Security Council Resolution 2797. He emphasized that Morocco's autonomy plan should form the basis for achieving "a just, lasting and mutually acceptable solution" to the Western Sahara dispute. This statement follows several international condemnations of attacks targeting Smara and calls to preserve diplomatic efforts under the United Nations.
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