Compagnie Algérienne des Assurances (CAAT)

Set up on April 30, 1985 within the framework of market specialization, CAAT, a state-owned company, came into being as a result to the dismemberment of CAAR of which it inherited both the portfolio and the staff.

CAAT-Algeria

Operational as of January 1986 in the form of a monoline company, CAAT had for a few years consecrated State monopoly over various insurance operations such as marine, land and air transport. In 1989, the company modified its status and proceeded to the broadening of all its classes of business.

Other structural evolutions followed, especially after the lifting of State monopoly over insurance operations and the separation of non-life insurance operations from personal insurance.

Nowadays, CAAT, a non-life company, stands as the second insurer of the market after SAA. It remains the leader of marine activities while gradually increasing its turnover in the other classes of business, especially in industrial risks.

The company’s fundamentals are sound, shareholder’s equity worth about 200 million USD, a turnover in Algerian dinars growing constantly, a combined ratio set between 68.8% and 81.2% in the last five years, an average net result of 9.85% of the written premiums during the period between 2013 and 2017 and approximately annual 11% in return on investment. One of the most flattering assessment.

Youcef Benmicia

Chairman

CAAT in 2017

Share capital	139 648 000 USD
Turnover	200 744 000 USD
Assets	540 630 000 USD
Shareholder’s equity	198 815 000 USD
Net result	21 916 000 USD
Gross loss ratio	54.9%
Management expenses ratio	24.3%
Combined ratio	79.2%
Return on equity	10.87%
Number of regional branches	9
Number of employees	1 615

Shareholding

Algerian State

100%

Management

Chairman	Youcef Benmicia
Administration and finance manager	Mohamed Kamel Ihadjadene
Head of technical business	Hocine Bouarour
Development manager	Hamid Hamadouche

CAAT : main technical highlights (2013-2017)

in thousands DZD

	2013	2014	2015	2016	2017
Gross written premiums	18 113 889	20 192 356	21 160 079	22 615 696	23 000 000
Written premiums net of reinsurance	10 535 400	11 848 609	11 733 477	12 416 786	12 358 210
Gross earned premiums	17 671 348	19 765 232	21 566 597	22 147 725	22 966 728
Gross incurred losses	7 265 588	9 460 204	12 294 445	11 595 084	12 615 856
Management expenses	5 009 396	5 628 269	5 117 016	5 455 905	5 600 000
Gross loss ratio	41.1%	47.9%	57%	52.4%	54.9%
Expenses ratio⁽¹⁾	27.7%	27.9%	24.2%	24.1%	24.3%
Combined ratio	68.8%	75.8%	81.2%	76.5%	79.2%
Technical result	2 092 556	1 519 315	2 139 378	2 339 806	2 573 417
Financial income	600 320	684 357	799 079	861 228	842 380
Net result	1 925 666	1 574 132	2 069 022	2 337 768	2 510 946

in thousands USD

	2013	2014	2015	2016	2017
Gross written premiums	233 126	231 001	198 524	205 486	200 744
Written premiums net of reinsurance	135 591	135 548	110 083	112 819	107 862
Gross earned premiums	227 430	226 114	202 338	201 234	200 454
Gross incurred losses	93 508	108 225	115 346	105 353	110 111
Management expenses	64 471	64 387	48 008	49 572	48 877
Gross loss ratio	41.1%	47.9%	57%	52.4%	54.9%
Expenses ratio⁽¹⁾	27.7%	27.9%	24.2%	24.1%	24.3%
Combined ratio	68.8%	75.8%	81.2%	76.5%	79.2%
Technical result	26 931	17 381	20 072	21 259	22 461
Financial income	7 726	7 829	7 497	7 825	7 352
Net result	24 783	18 008	19 412	21 241	21 916

⁽¹⁾ Expenses ratio = management expenses / gross written premiums

CAAT : evolution of premiums, losses and results (2013-2017)

in thousands DZD

CAAT-Algeria technical indicators

CAAT : evolution of ratios (2013-2017)

CAAT-Algeria ratios

CAAT : breakdown of turnover per class of business (2013-2017)

in thousands DZD

	2013	2014	2015	2016	2017	2017 shares
Motor	7 249 700	7 798 577	7 650 782	7 892 566	7 553 000	32.8%
Marine	1 409 004	1 529 328	1 359 918	1 940 290	1 498 000	6.5%
Property⁽¹⁾	9 453 337	10 863 204	12 147 911	12 776 690	13 882 000	60.4%
Credit	1 848	1 247	1 469	6 151	67 000	0.3%
Total	18 113 889	20 192 356	21 160 080	22 615 697	23 000 000	100%

in thousands USD

	2013	2014	2015	2016	2017	2017 shares
Motor	93 304	89 216	71 780	71 712	65 923	32.8%
Marine	18 134	17 496	12 759	17 629	13 075	6.5%
Property⁽¹⁾	121 664	124 275	113 972	116 089	121 162	60.4%
Credit	24	14	13	56	584	0.3%
Total	233 126	231 001	198 524	205 486	200 744	100%

⁽¹⁾ Fire, technical risks, accident and miscellaneous

Breakdown of 2017 turnover per class of business

CAAT-Algeria turnover per class of business

CAAT : incurred losses per non life class of business

in thousands DZD

	2013	2014	2015	2016	2017
Motor	4 981 538	6 623 714	4 684 005	4 621 881	4 690 102
Marine	214 353	49 192	134 969	106 971	375 682
Property⁽¹⁾	2 072 387	2 630 228	7 487 886	6 834 675	7 606 081
Credit	-2 691	157 071	- 12 416	31 557	-56 009
Total	7 265 587	9 460 205	12 294 444	11 595 084	12 615 856

in thousands USD

	2013	2014	2015	2016	2017
Motor	64 112	75 775	43 945	41 994	40 935
Marine	2 759	563	1 266	972	3 279
Property⁽¹⁾	26 672	30 090	70 251	62 100	66 386
Credit	- 35	1 797	-116	287	- 489
Total	93 508	108 225	115 346	105 353	110 111

⁽¹⁾ Fire, technical risks, accident and miscellaneous

CAAT : earned premiums per non life class of business : 2013-2017

in thousands DZD

	2013	2014	2015	2016	2017
Motor	6 887 176	7 791 901	7 846 531	7 820 203	8 587 260
Marine	770 994	798 736	870 988	760 932	907 186
Property⁽¹⁾	10 008 224	11 170 291	12 845 479	13 564 052	13 467 689
Credit	4 954	4 304	3 599	2 538	4 593
Total	17 671 348	19 765 232	21 566 597	22 147 725	22 966 728

in thousands USD

	2013	2014	2015	2016	2017
Motor	88 638	89 139	73 616	71 054	74 950
Marine	9 923	9 138	8 172	6 914	7 918
Property⁽¹⁾	128 806	127 788	120 516	123 243	117 546
Credit	63	49	34	23	40
Total	227 430	226 114	202 338	201 234	200 454

⁽¹⁾ Fire, technical risks, accident and miscellaneous

CAAT : Loss ratios per non life class of business : 2013-2017

	2013	2014	2015	2016	2017
Motor	72.3%	85.0%	59.7%	59.1%	54.6%
Marine	27.8%	6.2%	15.5%	14.1%	41.4%
Property⁽¹⁾	20.7%	23.5%	58.3%	50.4%	56.5%
Credit	54.3%	3649.4%	345.0%	1243.4%	1219.4%
Total	41.1%	47.9%	57.0%	52.4%	54.9%

⁽¹⁾ Fire, technical risks, accident and miscellaneous

Source: CAAT Assurances

Exchange rate DZD/USD as at 31/12	2013	2014	2015	2016	2017
Exchange rate DZD/USD as at 31/12	0.012870	0.011440	0.009382	0.009086	0.008728

CAAT

Head office	52 Avenue des Frères Bouadou, Bir-Mourad-Rais Algiers, Algeria
Tel	+213 (0) 23 56 93 24/33
Fax	+213 (0) 23 56 93 78/84
E-mail	info [at] caat [dot] dz" rel="nofollow">info [at] caat [dot] dz
Website	www.caat.dz

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Fri, 01/06/2018 - 12:31

Compagnie Algérienne des Assurances (CAAT)

CAAT in 2017

CAAT : main technical highlights (2013-2017)

CAAT : breakdown of turnover per class of business (2013-2017)

CAAT : incurred losses per non life class of business

CAAT : earned premiums per non life class of business : 2013-2017

CAAT : Loss ratios per non life class of business : 2013-2017

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