CASH
Unfortunately, such parentage is too difficult to take shape. CASH had to go solo without taking specific advantage from its prestigious sponsor.
After a difficult start, the company has finally managed to get established on the Algerian insurance landscape.
Nacer Sais |
Chairman |
Intent on building up a balanced portfolio, CASH no longer wishes to be the insurer of a few mega risks. Henceforth, it shall target a clientele of small and medium sized enterprises which it endeavors to retain through a distribution network in full development.
It is up to the management team to prove that there is a genuine market of industrial risks willing to go in line with a professional entity that has the capacity to make dreams come true.
CASH Assurances in 2008
Market share | 15% of the Algerian market |
Turnover | 9 957 597 000 DZD (146 775 000 USD) |
Paid up capital | 2 800 000 000 DZD (41 272 000 USD) |
Technical result | 811 202 000 DZD (11 957 000 USD) |
Net result | 512 209 000 DZD (7 550 000 USD) |
Shareholders' equity | 3 703 012 796 DZD (54 582 408 USD) |
Loss ratio | 21.07% |
Number of employees | 204 |
Direct network | 9 direct management offices 7 general agents |
Management
Chairman | Nacer Sais |
Assistant to the chairman in charge of administration and finance | Mahmoud Bencharif |
Advisor to the chairman in charge of marketing | Omar Akchiche |
Construction insurance manager | Mehdi Chellouche |
Industrial and personal line insurance manager | Sadek Aoudia |
Marine manager | Kamel Rahem |
Reinsurance manager | Abdelghani Rehal |
Shareholders
SONATRACH | 39% |
CAAR | 33.3% |
CCR | 16.7% |
NAFTAL | 11% |
Main technical highlights 2004-2008
in USD2004 | 2005 | 2006 | 2007 | 2008 | |
---|---|---|---|---|---|
Gross written premiums | 25 480 000 | 58 167 000 | 87 838 000 | 101 087 000 | 146 775 000 |
Premiums net of reinsurance | 3 220 000 | 6 142 000 | 7 636 000 | 11 250 000 | 8 854 000 |
Gross earned premiums | 26 167 000 | 54 783 000 | 87 768 000 | 99 260 000 | 141 931 000 |
Gross incurred losses | 6 993 000 | 19 593 000 | 23 737 000 | 30 247 000 | 29 911 000 |
Loss ratio | 26.73% | 35.77% | 27.05% | 30.47% | 21.07% |
Management expenses | 2 763 000 | 3 000 000 | 3 792 000 | 6 177 000 | 7 002 000 |
Technical result | 379 000 | 5 559 000 | 9 307 000 | 12 742 000 | 11 957 000 |
Financial income | 1 242 000 | 1 017 000 | 1 337 000 | 1 777 000 | 2 295 000 |
Net result | 230 000 | 35 000 | 3 667 000 | 7 837 000 | 7 550 000 |
Evolution of premiums, losses and results
in thousands USD in thousands USDTurnover's evolution per class of business 2004-2008
in thousands USD2004 | 2005 | 2006 | 2007 | 2008 | Shares | 2007-2008 growth | |
---|---|---|---|---|---|---|---|
Fire | 15 052 | 42 922 | 56 050 | 40 218 | 55 293 | 37.7% | 37.5% |
Engineering | 4 687 | 7 564 | 20 509 | 37 043 | 70 536 | 48.1% | 90.4% |
Marine | 4 793 | 5 644 | 5 373 | 16 950 | 11 095 | 7.5% | -34.5% |
Third Party Liability | 308 | 576 | 853 | 2 145 | 2 245 | 1.5% | 4.7% |
Motor | 537 | 1 033 | 1 838 | 3 099 | 3 337 | 2.3% | 7.7% |
Miscellaneous accident | 85 | 351 | 560 | 735 | 777 | 0.5% | 5.8% |
Life | 18 | 43 | 154 | 456 | 575 | 0.4% | 26.0% |
Acceptances | - | 34 | 2 501 | 441 | 2 917 | 2.0% | 561.5% |
Grand total | 25 480 | 58 167 | 87 838 | 101 087 | 146 775 | 100.0% | 45.2% |
Breakdown per class of business in 2008
Exchange rate DZD/USD as at 31/12 | 2004 | 2005 | 2006 | 2007 | 2008 |
0.01437 | 0.01374 | 0.01452 | 0.01556 | 0.01474 |
Contact
Head office | 54, Avenue des Frères Bouadou Bir Mourad Rais - 16300 Algiers |
Phone | (+213) 21 54 15 35 |
Fax | (+213) 21 54 13 29 |
Website | |
info [at] cash-assur [dot] com |
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Mon, 20/05/2013 - 14:42
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