The Société Centrale de Réassurance (SCR) has officially rebranded as Atlantic Re, marking a shift in strategic direction for the Moroccan reinsurance company.
The announcement was made following the inauguration of the firm's new headquarters at Casablanca Finance City.
The rebranding aligns with Atlantic Re’s long-term transformation strategy, which aims to consolidate its domestic market presence while expanding its footprint across the African continent.
According to director general Ouafae Mriouah (pictured above), Atlantic Re represents a broader ambition to strengthen Morocco’s resilience and role within Africa.
Established in 1960 through an agreement between the Moroccan government and the Caisse de Dépôt et de Gestion (CDG), SCR – now Atlantic Re – has played a pivotal role in Morocco's insurance sector. Initially benefiting from mandatory legal cessions, the company transitioned to a fully competitive model following the abolition of these cessions in 2014.
Over the decades, Atlantic Re expanded its footprint beyond Morocco, establishing representative offices in Abidjan (2014), Cairo (2018), and Kigali (2018), supporting its operational reach and strategic objectives across West, East, and North Africa.
The company provides reinsurance services to clients in more than 70 countries and collaborates with over 500 partners globally.
Atlantic Re’s financial performance in 2024 showed solid growth. It reported gross written premiums of 3.88 billion Moroccan dirhams (approximately US$375.9 million), which represents a 6% increase from the previous year.
Net profits reached 437.1 million MAD (about US$42.4 million), rising 55% year-on-year, driven by improved underwriting and investment outcomes. The company’s shareholders' equity stood at 3.055 billion MAD (about USD 296 million) as of December 31, 2024.
Domestic business contributed 71% of premiums, with international activities accounting for the remaining 29%, highlighting its growing presence beyond Morocco.
In February 2025, AM Best reaffirmed Atlantic Re’s financial strength rating at B++ (Good), with a stable outlook, citing its consistent operational performance and sound financial position.
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