In a press conference in Algiers, the chief executive officer of the National Insurance Company (SAA), Nacer Sais, said on May 19, 2019 that the company has achieved, for the year 2018, a turnover of 27.7 billion Algerian dinars (more than 230 million USD) up 4.4% compared to 2017. “This is an important performance, as our revenue growth represents twice the growth of market, estimated at 2% -2.5%. We have registered a qualitative and quantitative leap from 2017, “he said.
The CEO also announced that the non-automotive industries boosted this growth with an 11% increase. For its part, the car has increased by 2% in 2018, an additional turnover of 400 million DA compared to 2017.
The property and casualty sector is doing well with an increase of 9%, while agricultural and transport insurance has increased by 25% and 20% respectively. According to Nacer Sais, SAA paid 16 billion AD in 2018, which represents more than 40% of market regulations, and registered 338,000 new claims during the year.
If for the first quarter of the current year, the company says to have a strong growth estimated between 7% and 8%, “it is difficult to anticipate the results of the year,” said Sais. Recall that the cumulative turnover of insurance companies operating in the Algerian market reached 142.6 billion Algerian dinars (over a billion USD) against 139.5 billion the previous year, a slight increase activity (2.2%) according to data provided by last April by the National Insurance Council (CNA).
