News Africa24 Jun 2019

Algeria:African and Arab markets contribute half of reinsurer's international business

| 24 Jun 2019

The Africa & Arab zone is the largest international underwriting market for Algeria's state owned reinsurer Compagnie Centrale de Reassurances (CCR), the company says in its recently released annual report for 2018.

The Africa Arab area accounted for 50.4% of the reinsurer's total international acceptances in 2018 compared to 47.7% the previous year.

Gross written premiums achieved through international underwriting amounted to DZD4,377m ($36.8m) in 2018, against DZD3,765m in 2017, recording an increase of 16.25%.

CCR says that this performance was achieved from new business, an increase in CCR’s level of participation in 2017 and 2018 and premiums evolution of some programmes. The structure of its international premiums shows a contribution of 92.07% from treaty business and 7.93% from facultative business in 2018, compared to 90.86% and 9.14%, respectively, in 2017.

The other overseas markets for CCR are classified as Asia & America and Europe. Asia & America remained the second largest underwriting area for CCR, with a contribution of 37.4% in 2018 against 39.7% in 2017. Europe accounted for 12.1 % of total international business in 2018 against 12.6% in 2017.

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