The CSA issues a call to order to Algerian insurers

On November 13, 2016, the Commission de Supervision des Assurances (insurance supervision commission) sent a reminder to Algerian insurance companies.

In a letter sent to all the market players, the supervisory body has ordered the insurers to comply with the terms of the executive decree of August 1996.

This decree introduces the obligation to submit the appointment of managers of national and foreign insurance companies present in Algeriato the prior agreement of the CSA.

The purpose of this warning is to put an end to the appointment of directors or officers before obtaining the approval of the supervisory authorities.

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