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Apr 2014 The Compagnie Nationale d’Assurance des Hydrocarbures (CASH) has confirmed the launch in next September of its life insurance subsidiary. The Banque Nationale d’Algérie along with a Kuwaiti insurance company whose name has not been yet disclosed will also detain stakes in the capital of the new entity called Algerian Gulf Life Insurance Company (Algic).
The new policies will be marketed via CASH agencies intended initially to companies before targeting individuals. In 2013, CASH posted a turnover of 9 billion DZD (115.8 million USD).