Moroccan reinsurer SCR rebrands as Atlantic Re with African expansion plans

Morocco’s Société Centrale de Réassurance (SCR) has officially rebranded as Atlantic Re,marking a strategic pivot toward continental expansion. The announcement,made Thursday,follows the inauguration of the company’s new headquarters at Casablanca Finance City.

The 65-year-old reinsurer,a subsidiary of state investment fund CDG,positions this rebranding as part of a comprehensive transformation strategy aimed at strengthening its domestic leadership while accelerating regional growth across Africa.

“Atlantic Re embodies a national ambition. It expresses our will to contribute to a more resilient,more influential Morocco,oriented toward Africa,” the company’s Director General Ouafae Mriouah said.

The company reported a turnover of MAD 3.8 billion ($380 million) in 2024,with approximately 30% generated from international operations. It currently services clients in more than 70 countries and maintains relationships with over 500 partners worldwide,supported by regional offices in Abidjan (Côte d’Ivoire),Kigali (Rwanda),Cairo (Egypt),and recently Johannesburg,which serves as a hub for Southern Africa.

The rebranding aligns with what the company describes as King Mohammed VI’s vision for “a Morocco that is engaged,influential,and supportive in the development of the African continent.”

Atlantic Re’s transformation is guided by a strategic plan dubbed “Reach2030,” which focuses on five key objectives: strengthening national and continental leadership,reinventing client relationships,developing influence and visibility,reinforcing financial and technical strength,and developing talent and corporate culture.

Founded in 1960 and expanding into conventional reinsurance in 1965,the company has undergone several transformations,including significant capital increases—most notably in 2005 when it grew from MAD 300 million to MAD 1 billion ($100 million).

With its new identity,Atlantic Re aims to increase turnover by 20-30% by 2030,positioning itself as “a solid,agile,and visionary player” ready to address climate,economic,and technological challenges across Morocco and the broader African region.