Specialty MGA Africa & Middle East opens Casablanca office to expand regional services

Specialty MGA Africa & Middle East, a new provider of tailored insurance and reinsurance solutions, has opened an office in Casablanca following approval from the Moroccan Minister of Finance.

This new office aims to offer the region increased capacity for specialty lines of business and difficult-to-insure risks.

Specialty MGA Africa & Middle East is recruiting local underwriters who will work across various sectors, including International Property, Energy, Cyber, Forestry, and Surety.

These underwriters will serve as a link between the local market and the London Market, providing brokers easy access to experienced professionals with deep sector expertise.

MNK Group Chairman Manoj Kumar commented: “Africa and the Middle East are growing strongly and there will be a sustained demand for capacity. Launching Specialty MGA Africa & Middle East, and setting up our office in Casablanca, underlines our commitment to deepening our presence in these regions. I’m sure that Youssef and his team will help our clients access innovative and pioneering solutions.”

The Casablanca office is the company’s first in the region, with plans for further expansion. Future office locations being considered include Johannesburg, Dubai, and Nairobi, with a focus on combining global expertise and local insights to offer innovative risk management solutions.

Headquartered in London, Specialty MGA Africa & Middle East is led by Youssef Fassi Fihri, who has over three decades of industry experience.

Previously, he was CEO of Société Centrale de Réassurance in Casablanca, where he successfully expanded into international markets in the Middle East, Asia, and Africa.

He commented: “I’m delighted to be launching Specialty MGA Africa & Middle East, and that we now have a team in place in Casablanca. Having local knowledge means that we are best-placed to provide real value for our clients through unique solutions that meet their specific needs.

We want to expand and have a significant appetite for risk. Businesses in this region are growing quickly and eager for coverage, so there is a significant opportunity. Complex projects in sectors like energy require underwriting expertise and are demanding much more capacity. We will work closely with clients to ensure that they receive speedy and predictable services which significantly reduce their cost of risk.”

The company is part of Specialty Management Group, which includes sister companies such as Specialty MGA UK, Specialty MGA Italy, and Specialty MGA Texas, all offering local underwriting expertise. Last year, the Group expanded its reach by acquiring Oceánica de Seguros, enhancing its operations in Central and Latin America.

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