AM Best [4] confirms the financial strength rating of B++ (good) and the long-term credit rating of bbb of the Société Centrale de Réassurance (SCR). The outlook for these two ratings is stable.
AM Best says the Moroccan reinsurer has shown a good operational performance despite the Covid-19 crisis. The average Return on Equity (ROE) over the last five years (2015-2019) amounts to 12.9%.
The rating reflects the strength of SCR's balance sheet, its neutral commercial profile and its appropriate enterprise risk management. The strength of the balance sheet is assessed by its risk-adjusted capitalization, which reached its highest level by late 2019.
AM Best takes into consideration the company's good position in the Moroccan insurance market with a 50% share of premiums