CCR Algiers celebrates its 40th anniversary

Established in 1973, the Compagnie Centrale de Réassurance (CCR) is celebrating its 40th anniversary. Rated B + by A.M. Best, the company has posted a turnover of 16.480 billion DZD (212 million USD) in 2012, an increase of 22% compared to 2011.

Despite a 48% increase in international underwritings in 2012, the Algerian market remains the primary source of business for CCR. At 2 033 million DZD (26 million USD), net income for the year 2012 was up by 15% over one year. According to the company’s chairman, Hadj Mohamed Seba, CCR’s future plays out on the domestic market and in the MENA region where the Algerian reinsurer is displaying an aggressive marketing campaign.