AM Best has affirmed the SCR's B++ rating (good) for the international market while Fitch Ratings maintained that of the local market at AAA (excellent). The outlook for both ratings remains stable.
The analysis of the two agencies highlights the excellent quality of the balance sheet and operational performance of the Moroccan reinsurer.
The SCR enjoyed an average combined ratio of 89.1% over the last five years (2014-2018) with 93.2% in 2018 against 94.9% in 2017, an improvement of 1.7 points in one year. The net result amounted to 300.13 million MAD (31.382 million USD) in 2018.
For Fitch Ratings, the solvency margin gained five points in 12 months at 157% in 2018 versus 152% in 2017.
Read also | SCR: Results 2018 of the Société Centrale de Réassurance [4]