AM Best affirms the rating of Compagnie Algérienne des Assurances

AM Best has confirmed the "B" (fair) financial strength and "bb+" (fair) long-term credit ratings of Compagnie Algérienne des Assurances (CAAT). The outlook remains stable.

The rating recognizes the Algerian insurer's strong balance sheet, solid operating performance and marginal enterprise risk management.

Over the past five years (2018-2022), the company's operating performance has been driven by strong underwriting results, reflected in a weighted average combined ratio of 91%. The five-year weighted average return on equity (ROE) stands at 9.7%.

CAAT closed the 2022 financial year with a turnover of 26.7 billion DZD (194.7 million USD), thereby keeping its second place among Algerian insurance companies.