Strong growth in CNMA turnover in 2015

At the end of 2015, the Caisse Nationale de la Mutualite Agricole (CNMA) posted a net profit of 338 million DZD(3.2 million USD).

The turnover amounted to 12.5 billion DZD(117.27 million USD), that is an increase of 10.6% compared to the 11.3 billion DZD(129.27 million USD) recorded in 2014.
This rate is considerably higher than that of the sector as a whole, which rose by only 2.2% during the year under review.

 With 10.5% of the total premiums collected, CNMA has consolidated its position as the leading insurer of agricultural risks with 158 000 members.

The strong growth of the company in recent years has upset the hierarchy of insurers in Algeria. In terms of premiums, CNMA has risen to the fourth place in the market behind the three major national companies: SAA, CAAR and CAAT. It overheads the CASH, another major insurer.

It should be remembered that in 2015 the company made a significant increase in its share capital from 1 billion DZD in 2014 (11.4 million USD) to DZD 3 billion (28.1 million USD) in 2015.

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