Moroccan (MASI) Insurance Industry Analysis

Industry Valuation and Performance

Has the Moroccan Insurance Industry valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Tue, 11 Aug 2026	د.م46.0b	د.م23.6b	د.م2.6b	17.4x	18x	1.9x
Thu, 09 Jul 2026	د.م41.9b	د.م23.6b	د.م2.6b	17.1x	16.4x	1.8x
Sat, 06 Jun 2026	د.م43.5b	د.م23.6b	د.م2.6b	17x	17x	1.8x
Mon, 04 May 2026	د.م43.3b	د.م23.6b	د.م2.6b	16.8x	16.9x	1.8x
Wed, 01 Apr 2026	د.م39.0b	د.م29.1b	د.م2.4b	16.6x	16.2x	1.3x
Fri, 27 Feb 2026	د.م37.8b	د.م29.4b	د.م2.2b	18x	17.5x	1.3x
Sun, 25 Jan 2026	د.م37.1b	د.م29.4b	د.م2.2b	17.7x	17.1x	1.3x
Tue, 23 Dec 2025	د.م36.9b	د.م29.4b	د.م2.2b	18.4x	17.1x	1.3x
Thu, 20 Nov 2025	د.م36.8b	د.م29.4b	د.م2.2b	17.9x	17x	1.3x
Sat, 18 Oct 2025	د.م37.3b	د.م29.4b	د.م2.2b	17.9x	17.2x	1.3x
Mon, 15 Sep 2025	د.م38.9b	د.م28.3b	د.م2.1b	20.7x	18.3x	1.4x
Wed, 13 Aug 2025	د.م39.0b	د.م28.3b	د.م2.1b	19.9x	18.4x	1.4x
Fri, 11 Jul 2025	د.م37.7b	د.م28.3b	د.م2.1b	20.2x	17.8x	1.3x
Sun, 08 Jun 2025	د.م37.3b	د.م28.3b	د.م2.1b	20.2x	17.6x	1.3x
Tue, 06 May 2025	د.م37.7b	د.م28.3b	د.م2.1b	19.5x	17.8x	1.3x
Thu, 03 Apr 2025	د.م36.3b	د.م28.2b	د.م2.1b	19.9x	17.2x	1.3x
Sat, 01 Mar 2025	د.م35.7b	د.م27.8b	د.م1.9b	20.6x	18.9x	1.3x
Mon, 27 Jan 2025	د.م35.8b	د.م27.8b	د.م1.9b	20.6x	18.9x	1.3x
Wed, 25 Dec 2024	د.م33.6b	د.م27.8b	د.م1.9b	17.5x	17.7x	1.2x
Fri, 22 Nov 2024	د.م33.6b	د.م27.7b	د.م1.9b	18.6x	17.8x	1.2x
Sun, 20 Oct 2024	د.م34.5b	د.م27.7b	د.م1.9b	19.4x	18.3x	1.2x
Tue, 17 Sep 2024	د.م34.0b	د.م26.7b	د.م1.8b	20.1x	19x	1.3x
Thu, 15 Aug 2024	د.م32.8b	د.م26.7b	د.م1.8b	20.9x	18.3x	1.2x
Sat, 13 Jul 2024	د.م32.9b	د.م26.7b	د.م1.8b	20.4x	18.4x	1.2x
Mon, 10 Jun 2024	د.م32.8b	د.م26.7b	د.م1.8b	20.7x	18.3x	1.2x
Wed, 08 May 2024	د.م34.6b	د.م26.7b	د.م1.8b	20.7x	19.3x	1.3x
Fri, 05 Apr 2024	د.م31.2b	د.م26.7b	د.م1.8b	19.1x	17.4x	1.2x
Sun, 03 Mar 2024	د.م31.0b	د.م25.4b	د.م1.6b	19.8x	19.6x	1.2x
Tue, 30 Jan 2024	د.م29.8b	د.م25.4b	د.م1.6b	19.2x	18.8x	1.2x
Thu, 28 Dec 2023	د.م29.7b	د.م24.9b	د.م1.6b	19x	18.7x	1.2x
Sat, 25 Nov 2023	د.م29.1b	د.م24.9b	د.م1.6b	18.6x	18.3x	1.2x
Mon, 23 Oct 2023	د.م29.4b	د.م24.5b	د.م1.2b	19.4x	23.7x	1.2x
Wed, 20 Sep 2023	د.م29.0b	د.م24.5b	د.م1.2b	19.7x	23.5x	1.2x
Fri, 18 Aug 2023	د.م28.8b	د.م19.1b	د.م822.0m	22.4x	35x	1.5x

Current Industry PE

Investors are relatively neutral on the Moroccan Insurance industry at the moment, indicating that they anticipate long term growth rates to remain steady.

The industry is trading close to its 3-year average PE ratio of 18.6x.

The 3-year average PS ratio of 1.3x is lower than the industry's current PS ratio of 1.9x.

Past Earnings Growth

The earnings for companies in the Insurance industry have grown 46% per year over the last three years.
Revenues for these companies have grown 7.5% per year.
This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Moroccan Financials industry?


MA Market	6.71%
Financials	2.58%
Insurance	4.52%
General Insurance	4.77%
Insurance Brokers	0.61%

Industry PE

Investors are most optimistic about the Insurance Brokers industry, which is trading close to its 3-year average PE ratio of 19.9x.

It looks like they are confident that earnings will grow faster in the future than they have historically.

Investors are most pessimistic about the General Insurance industry, which is trading close to its 3-year average of 18.6x.

Forecasted Growth

Analysts are most optimistic on the General Insurance industry, expecting annual earnings growth of 8.9% over the next 5 years.
However this is lower than its past earnings growth rate of 11% per year.

In contrast, the General Insurance industry is expected to see its earnings grow by 8.9% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

Company	Last Price	7D	1Y	Valuation
WAA Wafa Assurance	د.م5.68k	6.2% +د.م1.2b	7.3%	PE19.4x
SAH Sanlam Maroc	د.م2.94k	3.2% +د.م480.8m	40.3%	PE17.1x
ATL AtlantaSanad Société Anonyme	د.م128.90	4.4% +د.م325.5m	-19.4%	PE16.6x
AGM Agma	د.م6.86k	2.4% +د.م32.0m	6.3%	PE19.8x

New minor risk - Shareholder dilution

The company's shareholders have been diluted in the past year. Increase in shares outstanding: 30% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.7% average weekly change). Minor Risk Shareholders have been diluted in the past year (30% increase in shares outstanding).

Moroccan (MASI) Insurance Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

New minor risk - Shareholder dilution

Dividend increased to د.م310

New minor risk - Dividend sustainability

New minor risk - Share price stability

Less than half of directors are independent