The Supervisory Authority of Insurance and Social Welfare (ACAPS) has published, on 7 September 2023, the main figures of the Moroccan insurance market [4] for the first half of 2023. As at 30 June, local insurers had recorded an overall turnover of 31.1 billion MAD (3.1 billion USD), up by 3.8% over one year.
Non-life premiums have improved by 8.6% to reach 18 billion MAD (1.8 billion USD). Life insurance underwriting was down by 2.3% compared with the first half of 2022, amounting to 13.1 billion MAD (1.3 billion USD).
It is worth recalling that on 8 September 2023, Morocco, and more specifically the Marrakech region, was hit by a violent earthquake measuring a magnitude 6.8. The disaster claimed more than 2 900 lives and caused extensive material damage. Initial estimates indicate that economic losses could exceed the 10 billion USD mark.