French group leaves Morocco

Present in Casablanca since 2013, the French insurance broker SPB (Société de prévoyance bancaire) has just ended its activities.

In Morocco, the French broker SPB has decided to close its doors, after having handled part of its back-office operations in the kingdom for 11 years. It has not communicated the reasons for this departure. Could this be linked to the adverse effects of the Covid-19 pandemic? “In the aftermath of the health crisis which caused its operating profit to plummet to -8 million euros (nearly -90 million dirhams), this affinity insurance specialist had made a digital shift as part of a business plan called Altitude 2023 and synonymous with an optimization of administrative staff,” recalls Challenge.