The long-awaited reform of Morocco's Insurance Code has reached a decisive stage with the submission of Book IV to the relevant authorities. This legislative step is a central pillar of the sector's modernization plan, known as "Assurance 2020-2030," aimed at enhancing governance, consumer protection, and financial stability.
Mohamed Hassan Bensalah, President of the Moroccan Federation of Insurance (FMA), has highlighted the importance of this overhaul. The updated code is expected to introduce new regulations for insurance and reinsurance companies, including stricter solvency requirements aligned with international standards to ensure the sector's resilience.
Parallel to this legislative progress, the sector is accelerating its digital transformation. The implementation of a new Solvency and Financial Condition Report (SFCR) is anticipated, and industry leaders are exploring the integration of artificial intelligence to improve risk assessment and supervisory processes. These combined efforts aim to strengthen the sector's competitiveness and adapt to evolving market demands.
