Axa Assurances Algérie, increasing turnover in 2017

The turnover of Axa Assurances Algérie increased by 34% in 2017, said the general manager of the company Pierre Vasserot, during a press conference held recently in Algiers.

The life business recorded a jump of 59% compared to a 19% increase for non life insurance. The non-life combined ratio improved by 8 points to stabilize at 98%.

The company ranked 7^th on the Algerian market during the year under review. This clear improvement in results is due to a strategy of separation of unprofitable business.

The shareholding of AXA Assurances Algérie is split between the AXA Group (49%), the National Investment Fund (36%) and the  Banque Extérieure d’Algérie (15%).

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