AM Best confirms SCR's rating

AM Best has affirmed Société Centrale de Réassurance's (SCR) financial strength rating of “B++” (good) and long-term credit rating of “bbb”. The outlook remains stable.

Over the 2019-2023 period, the Moroccan reinsurer posted solid results, underpinned by a five-year average combined ratio of 91.3%, a return on investment of 5.8% and a return on equity (ROE) of 11%. The company closed the 2023 financial year with a turnover of 3.7 billion MAD (376 million USD).

The rating also reflects SCR's strong balance sheet, neutral business profile and appropriate business risk management.