AM Best affirms rating of Société Centrale de Réassurance

AM Best has confirmed Société Centrale de Réassurance's (SCR) "B++" (good) financial strength and "bbb" long-term credit ratings. The outlook remains stable.

The Moroccan reinsurer has posted solid results over the 2018-2022 period, underpinned by a five-year average combined ratio of 91.8%, a return on investment of 5.5% and a return on equity (ROE) of 12%.

AM Best also noted that the company's exposure to the impact of the earthquakes in Turkey and Morocco is relatively low, as losses were mitigated by an adequate retrocession program.

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