Moroccan takaful insurance market: 2022 turnover

According to the data published by the Supervisory Authority of Insurance and Social Welfare (ACAPS), the Moroccan takaful insurance market has ended the year 2022 with a turnover of 11.8 million MAD (1.1 million USD). This marks the very first year since this activity, which is in line with Islamic principles, was launched.

The sector is dominated by the death class of business which accounts for 85% of the total takaful premiums underwritten in Morocco as at 31 December 2022. The fire activity and the individual takaful investment insurance are in second and third positions with respective market shares of 10% and 5%.