Doha – The Société Centrale de Réassurance (SCR) announced his rebranding as Atlantic re on Thursday. The step shows a new direction for the well -known Moroccan reinsurer. The announcement was made one day after the company’s new headquarters in Casablanca Finance City.
The 65-year reinsurance PursueA subsidiary of CDG has positioned this rebranding as part of a broader transformation strategy that aims to strengthen its national leadership and at the same time accelerate its regional expansion throughout Africa.
“Atlantic re -aggresses a national ambition. It expresses our will to contribute to a more resistant, more influential Morocco that has geared towards Africa,” said Ouafae Mriouah, General Director of Atlantic Re, according to the press release.
In 2024, the company reported a turnover of 3.8 billion US dollars (380 million US dollars), with around 30% generating from international business.
The current services of Atlantic Re in more than 70 countries and maintains relationships with over 500 partners worldwide, whereby the regional offices in Abidjan (Côte d’Ivoire), Kigali (Rwanda) and Cairo (Egypt) are set up.
The press release says that this new identity is reflected King Mohammed Vis vision for “a Morocco who is involved in the development of the African continent, influential and supportive.” Atlantic Re aims to establish himself as a reference player by combining specialist knowledge, closeness and long -term commitment.
The transformation strategy focuses on a strategic plan called “REACH2030”, which the company calls “not an easy plan, but as a trajectory of commitment”.
This plan is based on five main goals: strengthening the national and continental leadership, the reinforcement of customer relationships, the development of influence and visibility, the strengthening of the financial and technical strength as well as the development of talents and corporate culture.
The reinarian administration also announced that her new headquarters in Casablanca Finance City was acquired “at the market price”, with the previous headquarters being sold a few years ago. Atlantic Re has set a goal to increase its sales by 20% to 30% by 2030.
SCR was founded in 1960 and extended to conventional reinsurance in 1965. Over the years, the company has become over the years went through Many important changes, including several capital increases – were the most remarkable that it grew from MAD 300 million to MAD 1 billion ($ 100 million) in 2005.
In 2013, the company recorded the end of the right-wing down in the implementation of transformation plans “Strong I” (2013-2015) and “Strong II” (2017-2019).
The company gradually expanded its international presence and opened representative offices in Abidjan in 2014, followed by Cairo and Kigali in 2018. The company recently opened a fourth office in Johannesburg to serve as a hub as a hub for South Africa.
With this rebranding, Atlantic re presents itself as the press release as “solid, agile and visionary players, ready to tackle the climate, the economic and technological challenges of Morocco and the region and at the same time to remain loyal to its roots and to turn to the future”.
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