In its contribution to financial stability, ACAPS provides macro prudential supervision of the insurance and social welfare sector.
ACAPS actively contributes to the stability of the financial system through a permanent analysis and monitoring of the risks weighing on these sectors.They are carried out in order to identify, at an early stage, the trends, the possible risks and the weaknesses which occur at the micro prudential level and which could have an impact on the financial stability. In addition to analyzing the individual and collective behavior of the companies in the insurance sector, ACAPS conducts in-depth reviews of insurers likely to be systemically important.
In addition, ACAPS is taking all measures to facilitate and coordinate surveillance actions aimed at financial sector stability, notably through its active participation in the works of the Committee for Coordination and Surveillance of Systemic Risks (CCSRS).
The CCSRS prepares the annual report on financial stability where ACAPS contributes regarding the insurance and the social welfare sector.
Risk mapping is based on a set of quantitative and qualitative indicators used to identify and measure risks to the insurance and social security sector, and aims to provide a structured view of risks and facilitate regular evaluation.
The mechanism for analyzing macro-prudential supervision is based on performing stress tests in order to assess the insurance sector's resilience to extreme shocks. These stress tests are supplemented by macro stress tests to monitor and apprehend the risks associated with changes in national macroeconomic variables in the insurance sector.
Report on the financial stability
ACAPS jointly publishes with Bank Al-Maghrib and the Moroccan Capital Market Authority an annual report on the stability of the Moroccan financial system. The report draws on a range of qualitative and quantitative data and traces events at the macroeconomic level on the international and national levels, of the associated risks and their potential or actual impacts on the financial system. In particular, this report discusses the strength of the insurance sector and its interconnection with banks.