Morocco Auto Insurance Observatory — Q3 2026

The Moroccan insurance sector issued about 63 billion MAD in premiums in 2025 (+7.5% year-on-year according to ACAPS), including 34.85 billion for the non-life line (+7.3%), slightly over 54% of the total. Auto is its leading driver: 16.41 billion MAD in premiums (+8.2%), about 47% of non-life and a quarter of the total market. Mandatory third-party liability alone accounts for 13.4 billion MAD, nearly 82% of auto premiums; optional coverages (own damage, theft, fire, glass breakage, assistance) therefore weigh about 3 billion MAD. This growth is driven by a continuously expanding fleet: 4,747,215 vehicles in circulation at end-2024 according to the HCP (3,112,040 passenger cars, 1,296,174 utility vehicles, 339,001 motorcycles), versus 3.28 million in 2013. The new-car market set a record in 2025 with 235,372 registrations (+33.4%), which mechanically feeds demand for extended coverage on recent vehicles, often required by auto loan providers.

The market is organized in three coverage levels. (1) Liability only (legal minimum under law 17-99, the insurance code) covers only damage caused to others; it concentrates nearly 82% of auto premiums (13.4 of 16.4 billion MAD in 2025) and its tariff is regulated by the State, hence the uniform +5% increase of August 4, 2026. (2) Extended third party ("Third Party Plus") adds optional coverages to liability: glass breakage, theft, fire, assistance, sometimes driver protection; it is the preferred intermediate formula for 5-to-10-year-old vehicles. (3) Comprehensive adds damage to the insured vehicle, including in an at-fault accident; for an economy vehicle under 160,000 MAD, the specialized press reported in 2025 annual premiums in the region of 4,500 to 12,000 MAD depending on insurer, profile and deductible. No official statistic breaks down the insured fleet by formula; the 82% weight of liability in premiums nonetheless indicates that most vehicles remain covered third-party only, with extended formulas concentrated on recent and loan-financed vehicles. The average premium, all vehicles and formulas combined, comes to about 3,450 MAD/year (wafir.ma estimate: 16.41 billion MAD over the 4.75 million vehicles in the fleet at end-2024), an order of magnitude that hides wide dispersion by fiscal horsepower, use, area and coverage level.

Published in the Official Bulletin in February 2026, law No. 70-24 reforms the compensation framework for road accident victims, whose scale had not been thoroughly revised since the 1984 dahir: revaluation of compensation for bodily injury, death and disability. The counterpart for policyholders: a 5% increase in auto third-party liability tariffs, initially announced for April 2026 and in force since August 4, 2026. It applies only to the mandatory liability coverage, on new contracts and on contracts reaching maturity and being renewed; contracts in progress are not affected before their term. According to insurers' simulations reported by the press, the revaluation of compensation should translate into an overall increase of about 20% in liability tariffs spread over five years (2026-2030), roughly 5% per year, to preserve the financial balance of a line already in technical deficit. For a typical liability contract, the immediate effect of the first step remains limited in absolute value but adds to rising repair costs and deteriorating claims.

ACAPS does not publish an insurer ranking specific to the auto line; the available ranking covers all premiums issued in 2025, all lines combined. Wafa Assurance (Attijariwafa bank group) consolidates its leadership with a 19.8% market share and 12.74 billion MAD in turnover (+8.4%). RMA (FinanceCom group) follows with 14.8% and 9.53 billion MAD (+7.1%). AXA Assurance Maroc holds fourth place with 11.2%, while Sanlam Maroc (formerly Saham Assurance, renamed after its acquisition by South Africa's Sanlam group) slips to 9.6% (-1.4 point). AtlantaSanad (Holmarcom group, born from the 2020 merger of Atlanta and Sanad) is the most dynamic challenger with 15% growth and a market share lifted to 9.4%; Allianz Maroc (+12.3%) and La Marocaine Vie (+17.1%, life only) also post above-market growth. The Wafa-RMA-AXA trio thus concentrates nearly 46% of the sector's premiums. On the auto line specifically, relative positions are believed to be close to this overall ranking for generalist players, but no official data allows this to be stated precisely.

The 2025 Annual Financial Stability Report (Bank Al-Maghrib, ACAPS, AMMC) confirms a marked deterioration: the auto line's gross loss ratio jumped 7.6 points to 76.9% in 2025 (69.3% in 2024), while the whole sector's rose from 66.7% to 68.5%. The non-life combined ratio reached 105.1% — for every 100 MAD of premiums, companies spent 105 MAD on claims, commissions and management expenses — a technical deficit before investment income. This drift is explained first by road accidents: according to NARSA's provisional note, 2025 recorded 160,347 injury accidents (+12.7%), 4,577 deaths (+25.5%, a record), 10,333 seriously injured (+10.8%) and 214,451 lightly injured (+11.2%), with a sharp rise in urban fatalities during the summer. Added to this are pricier imported spare parts and the upcoming revaluation of bodily injury compensation (law 70-24). Positive signal: the DGSN reports a 20% drop in vehicle thefts in 2025, and Interpol-Rabat enabled the seizure of 395 stolen vehicles. On the climate side, the Safi flash floods of December 2025 (37 deaths) and then the Gharb and Loukkos floods from January 28, 2026 (54 municipalities in the provinces of Larache, Kénitra, Sidi Kacem and Sidi Slimane declared disaster areas, 3 billion MAD public aid plan) are a reminder that coverage against catastrophic events (law 110-14, in force since 2020) only applies to vehicles if the event is officially declared catastrophic and the contract includes the corresponding coverage.

Our reading for the second half of 2026 (qualitative, non-modeled scenario): liability premiums will mechanically rise 5% as renewals occur after August 4, with further annual steps likely through 2030; on optional coverages, deteriorating claims (auto loss ratio 76.9%, non-life combined ratio 105.1%) and repair cost inflation point to tariff tightening and stricter risk selection, especially on Comprehensive; premium volume should remain supported by fleet growth and the record 2025 registrations. Recommendations for policyholders: (1) Compare systematically before renewing — aggregated simulations on wafir.ma show significant gaps between insurers for the same profile, especially on optional coverages, since liability pricing is regulated. (2) Renegotiate at term rather than renew tacitly, leveraging claim-free seniority. (3) Match coverage to vehicle value: for an old, low-value vehicle, liability plus assistance and glass breakage is often enough; Comprehensive is justified for a recent or loan-financed vehicle. (4) Check catastrophic-event coverage and assistance if the vehicle is driven in flood-prone areas. (5) Anticipate the liability increase: a contract renewed after August 4, 2026 includes the +5%; a contract in progress is not affected before its term.