Stocks Market
Moroccan Insurers Ride Stock Surge and Falling Rates to Boost Latent Gains
Insurance companies in Morocco are enjoying a highly favorable financial backdrop. By the end of October 2025, latent capital gains on their investment portfolios jumped 71.6% year‑on‑year to MAD 63.6 billion, driven by a buoyant stock market and declining interest rates. Premiums also rose 8.1% to MAD 53.6 billion, with both life and non‑life lines posting solid growth, confirming the sector’s resilience and strong fundamentals.
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Latent Gains Surge in Q4 2025
At the end of October, insurance companies' investment portfolios recorded a staggering 71.6% increase in latent capital gains compared with the end of 2024, reaching MAD 63.6 billion. The jump reflects a strong equity market and a recent decline in interest rates, which together lifted the valuation of financial assets across the sector.
Overall Portfolio Value Rises
The total investment pool grew by 5% to MAD 257.9 billion, underscoring insurers’ robust balance sheets.
Premiums Keep Growing
Net premiums written climbed to MAD 53.6 billion by October, up 8.1% year‑on‑year. Growth was balanced across non‑life (‑7.9%) and life (‑8.3%) lines, highlighting the sector’s resilience despite a mixed macro environment.
What This Means for the Market
These figures confirm that the Moroccan insurance industry remains well‑positioned to capitalize on favourable market conditions, reinforcing its fundamentals and financial stability.