Capital increase for Axa Assurance Algérie Vie

Axa Assurance Algérie Vie has proceeded to an increase of its share capital which goes from 1 billion DZD (8.75 million USD) up to 2.25 billion DZD (19.69 million USD.

The French insurer has been operational on the Algerian market since November 2011 through its two subsidiaries: AXA Assurance Algérie Vie and AXA Assurance Algérie Dommages which is endowed with 3.15 billion DZD (27.57 million USD) in capital.

Within the framework of its operations in Algeria, AXA has partnered with Banque Extérieure d’Algérie (BEA) and with Fonds National d’Investissement (FNI). Around this table, Axa Algérie detains 49% of the capital, FNI (36%) and BEA (15%). The management of both life and non life companies has been entrusted to AXA.

More news:

• The insurance industry in Algeria