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Morocco: Three reinsurers come together to establish Mamda Re

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Three reinsurers from Bermuda, France and Morocco have come together to set up a reinsurer, Mamda Re, that will cover agricultural risks in the Moroccan and African markets, Middle East Insurance Review reported.

The reinsurers, namely the Moroccan Agricultural Mutual Insurance, La Centrale de Reassurance Mutual and PartnerRe Ltd., have received regulatory approval to establish Mamda Re, reports Moroccan daily l’Economiste.

Mamda Re will have 1 billion Moroccan dirhams ($120.6 million) in capital.

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