Cash Assurances: share capital increase

The Compagnie d'Assurances des Hydrocarbures (Cash) has proceeded to a 50% share capital increase, raising it from 10 billion DZD (73.6 million USD) to 15 billion DZD (110.4 million USD).

The operation was funded by a capital contribution in kind from the majority shareholder Sonatrach amounting to 5 billion DZD (36.8 million USD). Sonatrach's participation in the capital of Cash Assurances has thus gone up from 82 to 88%.

This recapitalization allows the Algerian insurer to better meet its financial and insurance commitments towards its clients.