British insurer Lloyd’s chooses Casablanca finance City to install its African base

Lloyds Bank. © Photo: RR

Casablanca, (ADV, with agencies) – According to information obtained by ‘Afrique La Tribune’ from a source close to the case in London, this decision of Lloyd’s should be made public “in the coming days”, the two parties being in the process of setting up the last settings around the communication of this installation.

Still according to the same source, before obtaining the “CFC status” for the British insurer, Lloyd’s and Casablanca Finance City teams held several meetings with the Moroccan regulator of insurance, ACAPS, as well as with the supervisory authorities of the Kingdom of Morocco, to ensure that the Moroccan regulatory framework offers all the “guarantees allowing the London insurer to make Casablanca its true bridgehead in French-speaking Africa”.

Clearly, the English insurer made its decision only after ensuring that premiums collected from Casablanca could be returned to London.

In addition to its classic insurance products, Lloyd’s should also use its new Africa office to sell training and service.

Bur-csa – S.E – ADV, with Agencies