Lloyd's expands in Africa with new Moroccan office
Lloyd's has opened a new office in Casablanca Finance City (CFC) to provide tailored risk solutions in North Africa while appointing Salah El-Kadiri as its general representative.
The license allows Lloyd’s managing agents to appoint coverholders and service companies established in the CFC to underwrite Moroccan and regional re/insurance business on their behalf.
This includes marine, aviation and other specialist risks where there are no solutions provided locally, and reinsurance on Moroccan and non-Moroccan risks.
Lloyd’s CEO Inga Beale said: “We believe that Africa is the next frontier for insurance. At Lloyd’s, we are determined to play a vital role in supporting economic growth and developing insurance markets in Africa. To achieve this, we will improve access to the Lloyd’s market and support capacity building across the continent. This will be vital for realizing sustainable development and building resilience for the future. The opening of our Morocco office is a major step in this mutually beneficial journey.
El-Kadiri commented: “I am thrilled to represent Lloyd’s in its commitment to supporting the development of insurance markets in Africa. Lloyd’s innovative and flexible risk solutions will be essential to seize opportunities for building resilience and supporting growth with a rising population and expanding infrastructure and commerce across Africa.”
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