Establishment of a new system of solvency of companies

The Conseil National des Assurances (CNA) has organised on March 11, 2008 a conference aimed at familiarizing Algerian professionals with the new solvency system of the European Union, called Solvency II. Expected by 2012, the establishment of this device is designed to harmonise the market insurance in the European community and to reinforce the protection mechanisms of the insured and other beneficiaries.

According to Abdelmajid Messaoudi, CNA's permanent secretary the Algerian insurance companies are required to enhance their solvency to ensure their sustainability and to provide their clients with durable services.