Morocco: Bancassurance sector, including bancatakaful, maintains growth trend

Source: Middle East Insurance Review | Feb 2026

The bancassurance sector in Morocco maintained its growth momentum, registering a 6.6% increase in 2024.

The total premiums generated amounted to MAD20.5bn ($2.25bn), collected through banking networks, finance companies, payment institutions, and microcredit associations, according to the Insurance and Social Security Supervisory Authority (ACAPS).

In its “Bancassurance 2024” report, ACAPS said that with a market share of 32%, bancassurance surpassed all other distribution channels, including brokers (30%), agents (22%) and direct management offices (16%).

By branch, life insurance continued to dominate the sector, with premiums of MAD19.7bn, representing 96.1% of total bancassurance premiums collected. By insurance company, the majority of bancassurance premiums were collected by three insurers: Mutuelle Attamine Chaabi (MAD7.7bn), Wafa Assurance (MAD4.7bn) and RMA (MAD4.4bn). M

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