The Moroccan insurance sector recorded a net profit of MAD 3.1 billion (approximately USD 312.5 million) in the first half of 2024, marking a 3% increase compared to the same period in 2023, as reported by the Insurance and Social Welfare Supervisory Authority (ACAPS). This growth was attributed primarily to improved technical results in direct insurance, which saw profits rise by 8%. In contrast, the national reinsurer, Société Centrale de Réassurance (SCR), experienced a significant decline in profit, down nearly 60% to MAD 88.8 million. Overall, the sector’s turnover grew by 5.1% to reach MAD 32.1 billion, driven by both life and non-life insurance segments.
