Three life insurance companies licensed

Three new companies have been licensed to transact life insurance in Algeria. In addition to Taamine Life Insurance Algérie, subsidiary company of the Caisse Algérienne d’Assurance Transport, Caarama Assurance and Société d’Assurance de Prévoyance et de Santé have also been licensed.

Caarama Assurance is owned by the Caisse Algérienne d’Assurance et de Réassurance, while the Société d’Assurance de Prévoyance et de Santé is a company in which Société Algérienne d’Assurance, Banque Algérienne de Développement Rural, Banque de Développement Local and Macif are shareholders. These companies may underwrite personal accident, health, assistance and life insurance.