CEO’s message

 

 

"If in 2018 we were still trying to understand why the market remained competitive and kept a certain flexibility and stability despite a significant loss recorded in the market a year earlier, in 2019 the tone was clearly different "Hard Market is real" with as a consequence a systematic increase of prices, most often accompanied by a reduction in the capacity of insurers and reinsurers.


In addition, the year 2019 was marked by the occurrence worldwide, of a significant number of natural disasters (Hurricane Dorian / Bahamas, forest fires / Australia, Gloria storm / Spain ...), making the decade that has just passed, the most expensive in terms of natural disasters.


As for the national economy, 2019 was a relatively positive year, despite the socio-economic upheavals that our country has experienced. Indeed, the economy posted a growth rate of around 2.3% in 2019, compared to 1.4% in 2018.


Concerning the national insurance market, the production of the sector, at 31.12.2019 according to provisional figures, amounted to almost DZD 152.1 billion against DZD 143.3 billion in 2018, i.e. a growth of 6.1% against 2,2% in 2018.


Regarding reinsurance, the cession of the national market observed a slight increase of 3.78%, going from DZD 41,008 million to DZD 42,559 million, the CCR market share being 70%.


In terms of written premiums achieved internationally by CCR, it recorded an increase of 34.53% in 2019. This reflects the marketing efforts deployed by the company for its development in this market, and reflects its desire to best adapt its services to the needs of the international market.


As for the global written premiums achieved by CCR, it amounted to DZD 35,655 million, up 11.16%. This upward variation is driven by both national and international acceptances.


In terms of claims, the financial year 2019 was marked by a high loss experience with an increase of the gross claims expense of 55.58%.
Within the framework of its commercial activity, CCR continues its commercial and support actions for the benefit of the local marketcompanies.


For the financial activity, CCR's financial investments and participations increased by 13.09%, with predominance of investments in State value, and in compliance within the related regulation.


Consequently, the growth in written premium combined with a controlled underwriting policy, a profitable financial investment policy and qualified staff, enabled CCR to maintain its level of profitability.


Finally, for the year 2019, CCR managed to preserve its rating, B + with stable prospects, attributed by the rating agency AM BEST, which testify its financial solidity and its technical performance."


                                                          Chairman and Chief Executive Officer
Hadj Mohamed SEBA

Where to find us ?

Address :
Ilot 2 n°133 Cité Administrative Plateau Ouled Fayet,  Alger

  (+213 ) 023 31 40 75
  contact@ccr.dz

  (+213 ) 023 31 40 68

 

Sunday - Thursday : 8:30 am - 05:00 pm

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