1. 1. Takaful Morocco market 2025: +49% premiums
After a quiet operational launch in 2022, participative insurance is taking off. The 2025 figures published by ACAPS confirm an exponential trajectory, driven by demand from the 30% of practicing Muslim savers and the growth of participative banking.
- Premiums 2025: MAD 1.8 billion (vs MAD 1.21B in 2024)
- Annual growth: +49% (vs +33% in 2024)
- Addressable target: 30% of insurable population
- Products: auto, home, health, life, travel, Hajj/Umrah, professional liability
- Regulator: ACAPS (Insurance and Social Welfare Supervisory Authority)
Takaful relies on three pillars: absence of interest (riba), mutualization of losses and profits among participants, and Sharia compliance validated by a mandatory board at each operator. Law 17-99 of the Insurance Code and Law 50-15 on participative banking strictly regulate this market.
Reinsurance is provided locally by Wafa Re and internationally by Munich Re via its Salaam branch, ensuring the solvency of the five Moroccan operators.
Why this acceleration?
The launch of Bank Al Yousr, Umnia Bank and Bank Assafa created a full participative ecosystem. Takaful became mandatory as collateral for Mourabaha real estate financing, mechanically boosting demand.
2. 2. Comparison of the 5 ACAPS-licensed operators
Five companies share the market in 2026, with distinct positioning by market share, products and banking backing.
| Operator | Banking backing | Market share 2025 | Key products | Launch year |
|---|---|---|---|---|
| Wafa Takaful | Attijariwafa Bank | ~35% | Auto, home, life, Mourabaha | 2022 |
| RMA Watania Takaful | BMCE / FinanceCom | ~25% | Auto, health, life, travel | 2022 |
| AtlantaSanad Takaful | Holmarcom (former) | ~20% | Auto, home, professional liability | 2023 |
| Saham Takaful | Sanlam / Saham | ~15% | Auto, health, Hajj/Umrah | 2023 |
| Takafulia (Holmarcom) | Holmarcom Finance | ~5% | Auto, home, life | 2024-2025 |
Wafa Takaful dominates thanks to the Attijariwafa Bank network and its exclusive partnership with Bank Assafa for Mourabaha financing. RMA Watania and AtlantaSanad benefit from the actuarial expertise of their conventional parent companies.
3. 3. Wafa Takaful: undisputed leader (35% market share)
A subsidiary of Attijariwafa Bank and Wafa Assurance, Wafa Takaful concentrates nearly MAD 630 million in premiums in 2025. Its lead is explained by Bank Assafa distribution (200+ participative branches) and native integration with Mourabaha real estate financing.
Flagship products
- Wafa Takaful Auto: third-party, third-party+, comprehensive Sharia-compliant
- Wafa Takaful Home: bundled with Bank Assafa Mourabaha
- Wafa Takaful Life: savings-death without interest
- Wafa Takaful Mourabaha: mandatory cover for participative loans
Indicative tariffs 2026
| Product | Indicative annual premium | Cap |
|---|---|---|
| Auto third-party | from MAD 2,400 | Vehicle-dependent |
| Home 100 sqm | from MAD 1,800 | MAD 1.5M |
| Life savings | from MAD 200/month | No cap |
4. 4. RMA Watania Takaful: BMCE strategy (25%)
Backed by BMCE Bank of Africa via FinanceCom, RMA Watania Takaful generates about MAD 450 million in premiums in 2025. Distribution via Bank Al Yousr and the RMA Assurances network.
- RMA Watania Auto: extended cover for all accidents
- RMA Watania Health: reimbursement up to 80% with care network
- RMA Watania Hajj/Umrah: repatriation cover + assistance
- RMA Watania Life: Famille (death capital) + Avenir (child savings)
Strong specialization in health and Hajj/Umrah travel. RMA Watania signed a partnership with the Ministry of Habous for insurance support of pilgrims, a segment representing ~12% of its 2025 turnover.
5. 5. AtlantaSanad Takaful: actuarial expertise (20%)
AtlantaSanad Takaful builds on the 2022 Atlanta-Sanad merger to offer aggressive tariffs on auto and home. ~MAD 360 million in premiums 2025, distribution via Umnia Bank and 180 dedicated general agents.
- AtlantaSanad Auto Takaful: third-party at MAD 2,100/year for city car
- AtlantaSanad Home Takaful: multi-risk + rent guarantee
- AtlantaSanad Pro Liability Takaful: craftsmen, traders, liberal professions
- AtlantaSanad Assistance Takaful: 24/7 included
Price positioning: 8 to 12% cheaper than Wafa Takaful on the auto segment based on comparisons run on wafir.ma. The Sharia board is chaired by Sheikh Mohamed Najib Boulif, a guarantee of rigorous compliance.
Distribution strength
AtlantaSanad is the only Takaful company offering 100% digital subscription with CMI-compliant electronic signature, completed in under 8 minutes.
6. 6. Saham Takaful: the health and Hajj bet (15%)
A subsidiary of the Sanlam group (former Saham Finances), Saham Takaful generated ~MAD 270 million in premiums in 2025. Claimed specialization in individual health and premium Hajj/Umrah cover.
- Saham Health Takaful: 3 formulas (Essential, Comfort, Premium)
- Saham Hajj Premium: repatriation capital MAD 100,000
- Saham Auto Takaful: accelerated bonus-malus for good drivers
- Saham Mourabaha: linked to Umnia Bank loans
Distribution mainly via the Saham Assurance network (220 points of sale) and an emerging partnership with Bank Al Yousr. The company benefits from Salaam Re reinsurance (Munich Re) ensuring the strength of long-term commitments.
7. 7. Takafulia (Holmarcom): the 2024-2025 newcomer
The most recent ACAPS licensee, Takafulia Holmarcom started commercially in late 2024 with MAD 90 million in 2025 premiums (~5% market share). Penetration strategy via aggressive pricing and digital native approach.
- Takafulia Auto: launch promo -15% first year
- Takafulia Home: multi-risk cover + valuables included
- Takafulia Life: monthly savings module from MAD 150
- Native iOS/Android mobile app with photo claim declaration
Backed by the Holmarcom Finance group, Takafulia benefits from the CIH Bank participative ecosystem (Umnia Bank) and AtlantaSanad's field expertise. Stated goal: capture 10% of market share by 2027.
To watch in 2026
Takafulia is the only 100% digital-first Takaful operator on the market. If customer NPS confirms the promises, the operator could shake up the hierarchy by 2027.
8. 8. How to choose and subscribe to a Takaful in 2026
Choosing a Takaful operator depends on three main criteria: product sought, preferred distribution channel and price level. 4-step method to decide.
Step 1: define your precise need
- New or used car: prefer AtlantaSanad or Takafulia (tariffs)
- Home bundled with Mourabaha: Wafa Takaful (Bank Assafa integration)
- Health and Hajj travel: RMA Watania or Saham Takaful
- Long-term savings: Wafa Takaful Life or RMA Watania Avenir
Step 2: compare at least 3 quotes
Use the wafir.ma comparator to obtain 3 Takaful quotes on the same scope of guarantees in less than 5 minutes. The gap observed between operators regularly reaches 18 to 25% for equivalent coverage.
Step 3: check Sharia compliance
- Presence of a Sharia board at the operator (mandatory ACAPS)
- Compliance certificate visible on the contract
- Identity of the Sharia board chair (notoriety guarantee)
- Surplus redistribution mechanism (participative surplus)
Step 4: subscribe (digital or branch)
Three operators now offer 100% digital subscription: AtlantaSanad Takaful, Takafulia and partially Wafa Takaful. Required documents: national ID, vehicle registration (auto), property title (home), bank details for direct debit.
9. FAQ
Q.What is the difference between Takaful and conventional insurance?
Q.How many Takaful operators are licensed in Morocco in 2026?
Q.Is Takaful more expensive than classic insurance?
Q.Who is the Takaful market leader in Morocco?
Q.Is Takaful mandatory for a Mourabaha loan?
Q.Can I subscribe to Takaful 100% online?
Q.Which products are covered by Takaful in Morocco?
Q.How does Takaful surplus redistribution work?
Q.Who reinsures Takaful operators in Morocco?
Q.What growth is expected for Takaful in 2026?
Compare 5 Takaful quotes in 5 minutes
Receive 5 personalized quotes from ACAPS-licensed Takaful operators with no advance or commitment. Save up to 25% for equivalent coverage.
Compare Takaful quotes