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CAAT assurance raises its capital by 40%

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Magazine Issue: 
Africa, Middle East: great moves in the reinsurance business [3]
Magazine date: 
Dec 2015

The Compagnie Algérienne des Assurances Transport (CAAT) has increased its share capital by 40%. The latter went from 11.49 billion DZD (107.97 million USD) to 16 billion DZD (150.35 million USD). This increase has been carried out by incorporation of reserves.

As a reminder, CAAT was founded in 1985 with an initial capital of 60 million DZD (12 million USD). Limited at the sole transportation risk when the Algerian insurance market [4] was specialized, the company was subsequently diversified. At the end of 2014, the CAAT held the second place in the local market with a turnover of 20.19 billion DZD (231 million USD).

Tue, 05/01/2016 - 11:13

Source URL: https://www.atlas-mag.net/en/article/caat-assurance-raises-its-capital-by-40

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[4] http://www.atlas-mag.net/en/article/the-algerian-insurance-market-remains-dominated-by-state-companies