Magazine date:
Jan 2016 Axa Algérie is going through rocky times. After four years of operations, the damage subsidiary of the French insurer incurred a loss of 604 million DZD (6.9 million USD) in 2014.
The life insurance company has, however, reported a slight profit of 5 million DZD (57 200 USD). These poor results have pushed the insurer to reconsider its establishment strategy throughout the country.
Axa’s network, which currently includes 65 agencies and 500 employees, is set to be reduced whereas the closure of some agencies will be carried out without layoffs.