CCR Alger

Regarded at first as an act of national sovereignty, the creation of CCR in 1973 put the finishing touches to the State control of all insurance operations. All premiums transformation chain, from the distribution of policies to reinsurance placement, was under Government control. Within this framework, the company's objective was to defend the country's economic independence and to retain the maximum of premiums inside the market.

Algeria's favourable economic environment in the 1970s and 1980s facilitated the development of CCR which managed to take full advantage of its position. It was the compulsory track record required of all reinsurers who wished to take part in Algerian risks.

Hadj Mohamed Seba

Chairman

Today, reinsurance monopoly has been removed and the State has reshaped its economic policy. CCR is standing as a commercial company.

For the new President, Mohamed Seba and his team, the challenge is exciting. It is all about renovating the company and enabling it to move one step ahead. CCR has to ensure its domestic market by establishing privileged ties with local ceding companies, and redeploy internationally with the Maghreb and Africa as priority markets.

Main technical highlights: 2002-2006

in USD

	2002	2003	2004	2005	2006
Gross written premiums	68 663 255	72 638 071	73 179 559	71 821 161	71 130 788
Net written premiums*	17 859 751	25 778 314	26 726 565	32 854 799	35 531 335
Gross earned premiums	59 435 110	75 134 192	81 332 975	66 010 391	65 435 967
Gross incurred losses	44 436 328	12 936 124	47 311 251	72 053 595	21 049 046
Net incurred losses*	10 749 939	13 217 928	17 258 951	4 088 050	1 811 989
Loss ratio	74.76%	17.22%	58.17%	109.15%	32.17%
Management expenses	7 328 950	9 353 193	9 078 717	14 561 115	14 182 561
Technical result	2 702 702	9 380 032	8 649 590	11 170 358	21 389 645
Financial revenues	6 902 848	6 494 900	8 515 488	4 388 843	3 801 089
Net result	5 332 359	4 401 502	5 297 036	7 041 290	5 054 495

* Net of retrocession

Evolution 2002-2006

in millions USD

Breakdown of premiums per class of business: 2002-2006

in USD

	2002	2003	2004	2005	2006
Fire	25 359 142	26 127 214	26 726 565	17 541 700	21 689 373
Engineering	5 222 790	8 561 460	12 444 682	10 568 772	9 346 049
Miscellaneous accident	5 977 599	8 011 127	8 032 720	8 148 755	4 754 768
Natural catastrophes	-	-	-	7 738 583	8 474 114
Aviation	19 052 836	15 297 906	9 159 179	8 340 169	9 291 553
Marine hull	5 137 570	6 239 935	9 132 358	11 143 013	8 092 643
Marine cargo	7 913 318	8 400 429	7 684 055	8 340 169	9 482 288
Total	68 663 255	72 638 071	73 179 559	71 821 161	71 130 788

Turnover's evolution 2002-2006

in millions USD

Loss ratio: 2002-2006

Exchange rate DZD/USD as at 31/12	2002	2003	2004	2005	2006
	0.0122	0.0134	0.0134	0.0137	0.0136