Doha – The Société Centrale de Réassurance (SCR) announced its rebranding as Atlantic Re on Thursday. The move shows a new direction for the well-known Moroccan reinsurer. The announcement came one day after the inauguration of the company’s new headquarters at Casablanca Finance City.
The 65-year-old reinsurance company, a subsidiary of CDG, has positioned this rebranding as part of a broader transformation strategy aimed at strengthening its national leadership while accelerating its regional expansion across Africa.
“Atlantic Re embodies a national ambition. It expresses our will to contribute to a more resilient, more influential Morocco, oriented toward Africa,” said Ouafae Mriouah, Director General of Atlantic Re, according to the press release.
The company reported a turnover of MAD 3.8 billion ($380 million) in 2024, with approximately 30% generated from international operations.
Atlantic Re currently services operators in more than 70 countries and maintains relationships with over 500 partners worldwide, with regional offices established in Abidjan (Côte d’Ivoire), Kigali (Rwanda), and Cairo (Egypt).
The press release states this new identity reflects King Mohammed VI’s vision for “a Morocco that is engaged, influential, and supportive in the development of the African continent.” Atlantic Re aims to establish itself as a reference player by combining expertise, proximity, and long-term commitment.
The transformation strategy centers on a strategic plan called “Reach2030,” which the company characterizes as “not a simple plan but a trajectory of engagement.”
This plan rests 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.
The reinsurer’s management also disclosed that their new headquarters at Casablanca Finance City was acquired “at market price,” with the previous headquarters having been sold several years ago. Atlantic Re has set a target to increase its turnover by 20% to 30% by 2030.
Founded in 1960, SCR initially expanded into conventional reinsurance in 1965. Over the years, the company has gone through many important changes, including several capital increases — the most notable being in 2005, when it grew from MAD 300 million to MAD 1 billion ($100 million).
In 2013, the company saw the end of legal cession, followed by the implementation of transformation plans “STRONG I” (2013-2015) and “STRONG II” (2017-2019).
The company has progressively expanded its international presence, opening representative offices in Abidjan in 2014, followed by Cairo and Kigali in 2018. The company also recently opened a fourth office in Johannesburg to serve as a hub for Southern Africa.
With this rebranding, Atlantic Re presents itself as what the press release describes as “a solid, agile, and visionary player, ready to address the climate, economic, and technological challenges of Morocco and the region while remaining true to its roots and resolutely turned toward the future.”
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