Today: July 20, 2018, 10:17 am
  
Business

Fitch Ratings grants Moroccan reinsurer Societe Centrale de Reassurance (SCR) Local Triple A Rating with a Stable Outlook

PR-Inside.com: 2017-08-11 08:02:01

Fitch Ratings grants Moroccan reinsurer Societe Centrale de Reassurance (SCR) Local Triple A Rating with a Stable Outlook

SCR
Mouna Bouanane Berrada
Tel : +212 5 22 46 04 00
Email : MBERRADA@scrmaroc.com

Moroccan reinsurer Societe Centrale de Reassurance (SCR https://www.scrmaroc.com/), has been granted by Fitch Rating services local triple A rating (AAA) with Stable Outlook, reflecting its financial soundness and solvency (202% Solvency Ratio for the year 2016).

Commenting on the rating, Youssef Fassi-Fihri, CEO of SCR, said, “The rating reflects SCR’s strong institutional structure, adequate capital, good underwriting performance, as well as its solid market position in Morocco and Africa throughout its Representation Office in Abidjan.”

In this context, Fitch Ratings considers SCR’s underwriting performance to be good; Fitch also views positively the commitment from SCR, through its strategic transformation strategy “STRONG II”, to develop Facultative Reinsurance as a source for future revenues and profitability.

The rating granted by Fitch Rating services to SCR is amongst the highest and strongest rating assigned to a domestic institution. SCR entertains business relationships with over 300 clients in 50 countries.

About SCR

Societe Centrale de Reassurance was created in 1960 through a convention between the state and the Caisse de Dépôts et de Gestion (CDG), renewed and updated in 2000. SCR is the leader of the Moroccan reinsurance market, and acts as institutional investor by contributing to withholding premiums in the domestic market. Furthermore, SCR undertook an ambitious diversification strategy based on international growth in Africa and the Middle East.

Press Information


Published by
Hossam Abdel-Kader
+43 1 9582319
e-mail
www.pr-inside.com/



# 314 Words
Related Articles
 
More From Business
Tarps Now Expansion to New St. Joseph [..]
ST. JOSEPH, MICHIGAN, UNITED STATES -- Tarps Now® is pleased to announce completion of its move to its newest operations [..]
The Tidy Maids Announces Scholarship Winner
RALEIGH, NC – JUNE 14, 2018 – The Tidy Maids Raleigh house cleaning and maid services is pleased to announce [..]
Introducing Worldwide Rakhi Delivery with Free Shipping: [..]
New Delhi, India, July 2018 - Are you planning to send Rakhi to Dubai? Avail the latest free shipping offer [..]
E. & J. Gallo Winery Gets Strong [..]
St. Helena, Calif. - Industrial Door Company, a local commercial door business since 1985, just replaced the exterior doors at [..]
29th Hong Kong Book Fair Opens with [..]
Theme of the Year: "Romance Literature"; 310 Cultural Events HONG KONG, July 18, 2018 - (ACN Newswire) - The 29th [..]

Disclaimer: If you have any questions regarding information in this press release please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims the content included in this release.