The FINANCIAL -- Lloyd’s, the world’s specialist insurance and reinsurance market, has appointed Salah El-Kadiri as its first representative in Casablanca.
His appointment follows granting of CFC status to Lloyd’s by the Casablanca Finance City Authority (CFCA).
Lloyd’s CFC status will allow Lloyd’s managing agents to delegate underwriting authority to intermediaries (third party coverholders or service companies) established in the CFC.
Salah will promote the Lloyd’s market, develop and strengthen Lloyd’s relationships in region and gather market intelligence for North Africa and across the francophone region. Salah will be based in Casablanca. He was previously with Lockton where he set up Lockton MENA CFC. Salah will report into Amit Khilosia, Regional Manager, Africa who leads Lloyd’s strategic and operational development across the continent, according to Lloyd’s.
Salah 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.
“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.”
Cameron Murray, Head of Middle East and Africa, Lloyd’s, said:
“I am delighted to welcome Salah to Lloyd’s. He brings over 35 years of experience in the insurance industry and the region.”
“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.”
Vincent Vandendael, Chief Commercial Officer, Lloyd’s, added:
“We are keen to strengthen our relationship with insurance markets in Africa, and Salah’s extensive experience across the region and in Europe make him the ideal person to lead Lloyd’s presence in Casablanca. I am delighted to welcome him to the team.”