Compagnie Algérienne des Assurances: AM Best rating

AM Best has assigned a Financial Strength Rating of B (Fair) and a Long-Term Issuer Credit Rating of “bb+” (Fair) to Compagnie Algérienne des Assurances (CAAT). The outlook for both ratings is stable.

According to the rating agency, the results (2016-2020) of the Algerian insurer are solid. The five-year average combined ratio is of 84.1% and the return on equity of 11%.

The rating also reflects the strength of the company's balance sheet, its good operating performance, its limited business profile and marginal enterprise risk management.

In 2020, CAAT reported a turnover of 24.75 billion DZD (186.72 million USD). The net profit grew by 10.5% to 2.798 billion DZD (21.11 million USD) by the end of 2020.