Insurance sector grows in 2024, but Morocco’s pension systems still face structural risks

Morocco's Insurance Industry Soars to New Heights in 2024

Revenue Surpasses $5.9 Billion, Signaling Continued Growth Trajectory

The Moroccan insurance sector closed 2024 on a high note, achieving a robust revenue of MAD 58.8 billion ($5.9 billion). This represents a significant 5.1% growth compared to the previous year, according to a joint financial stability report released Monday by Bank Al-Maghrib, the Insurance and Social Welfare Control Authority (ACAPS), and the Moroccan Capital Market Authority (AMMC).

Despite Success, Pension Systems Face Underlying Challenges:

While the insurance industry continues its impressive expansion, the report also highlights structural risks within Morocco's pension systems.