Supervised sectors
The Supervisory Authority of Insurance and Social Welfare (ACAPS) plays a central role in the regulation and supervision of the insurance and social welfare sectors in Morocco.
Additionally, ACAPS has the authority to supervise any entity acting as an underwriter of a group insurance policy, without prejudice to other controls required by applicable legislation.
Supervised Entities in the Insurance Sector
In the insurance sector, the entities under the supervision of ACAPS include:
- Insurance and reinsurance companies ;
- Insurance intermediaries and other entities involved in insurance and reinsurance operations.
Furthermore, the Authority may subject to its supervision any person acting as an underwriter of a group insurance policy, without prejudice to any additional controls that are specific to the legislation to which such person is subject.
Regulated Entities in the Insurance Sector
Insurance and reinsurance companies
Direct management offices
Insurance agents
Insurance brokers
Licensed banks
Participative banks and windows
Licensed finance companies
Micro-credit association
Payment service providers
Supervised Entities in the Social Welfare Sector
In the social welfare sector, ACAPS supervises the following entities :
- Public-law institutions managing retirement or pension operations governed by specific legislation, including:
- Basic pension schemes : Civil and military pension plans managed by the Caisse Marocaine des Retraites (Moroccan Pension Fund)
- Régime Collectif d’Allocation de Retraite (RCAR – Collective Retirement Allowance Plan)
- Caisse Nationale de Sécurité Sociale (CNSS – National Social Security Scheme)
- Private-sector entities managing pension operations under defined contribution or defined benefit schemes (e.g., Mutual Pension Funds)
- Internal pension funds within public institutions managing defined contribution or defined benefit plans
- Entities managing the Compulsory Health Insurance (Assurance Maladie Obligatoire - AMO)
- Mutual insurance companies, excluding those within the Royal Armed Forces and Auxiliary Forces
- Caisse Nationale de Retraites et d’Assurances CNRA - National Pension and Insurance Fund
Furthermore, the Authority may subject to its supervision any person acting as an underwriter of a group insurance policy, without prejudice to any additional controls that are specific to the legislation to which such person is subject.
Pension bodies including CNRA
Mutual insurance companies
Bodies managing AMO
