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Feb 2014 CASH will soon inaugurate its own subsidiary specializing in life insurance. The national bank of Algeria (BNA) and Kuwaiti insurer, Gulf Insurance, will be among the shareholders. CASH and its Kuwaiti partner will each detain a 42.5% stake, while BNA will have the remaining 15%.
The company has recently withdrawn its partnership with CAAR in the insurer Caraama specializing in life insurance. The Algerian market will now be made up of nine life companies.