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Former chief retakes reins at Moroccan insurer Wafa

Moroccan insurer Wafa Assurance SA named Ramses Arroub chairman and CEO, replacing the retiring Ali Harraj.

Harraj has served in the post since 2015, according to the company's website.

Wafa Assurance is the insurance arm of Moroccan lender Attijariwafa Bank SA, which in turn is controlled by Al Mada, the holding company of Morocco's king, Mohammed VI, that was formerly known as SNI.

Arroub previously held the chairman and CEO role at Wafa Assurance, but was removed from the post shortly before his father, Bouchaib Arroub, was named professional chief of staff of the Moroccan army in 2014. Ramses Arroub was most recently chairman of Optorg, an automotive distribution and industrial equipment manufacturing company also controlled by Al Mada.