Reinsurance News

Lloyd’s obtains CFC status and names Casablanca representative

20th September 2017 - Author: Staff Writer

Lloyd’s has appointed Salah El-Kadiri as its first representative in Casablanca, following its receipt of CFC status by the Casablanca Finance City Authority (CFCA).

With its CFC status, Lloyd’s managing agents have permission to delegate underwriting authority to intermediaries, third party cover-holders, or service companies established in the CFC.

El-Kadiri said; “I am delighted to be joining Lloyd’s, the world’s specialist insurance and reinsurance market.

“Africa’s strong demographic profile and wealth of natural resources present huge opportunities for its economies.

“Infrastructure and commerce are growing rapidly but require thorough risk management and mitigation to build resilience for the future. The complex risks that growing economies face need innovative, flexible risk transfer solutions.

Tremor - The modern way to place reinsurance

“Lloyd’s is already a leading provider of specialist insurance and reinsurance across Africa and I’m looking forward to increasing our support to insurance markets in Africa.”

El-Kadiri will be responsible to develop and strengthen Lloyd’s relationships in the region and gather market intelligence for North Africa and across the francophone region.

He will report into Amit Khilosia, Regional Manager, Africa, who leads Lloyd’s strategic and operational development across the continent.

Prior to his appointment, El-Kadiri worked for Lockton, and was responsible for setting up the firm’s MENA CFC.

Cameron Murray, Head of Middle East and Africa, Lloyd’s, commented; “Under CFCA’s leadership, Casablanca Finance City is fast becoming an important centre for regional reinsurance and a gateway to the wider francophone region. Its emergence over the last few years testifies to Africa’s status as the next frontier for insurance.”

“Lloyd’s is well positioned to deliver the solutions needed by the local market and Salah will provide an important conduit for local businesses, brokers and insurers to the specialist capacity and expertise that Lloyd’s underwriters and brokers offer.”

Print Friendly, PDF & Email

Recent Reinsurance News