The turnover of the Société Nationale d'Assurance (SAA) recorded an increase in original currency of 4.34% in 2018, from 26.527 billion DZD (228.6 million USD) in 2017 to 27.679 billion DZD (230.8 million USD) in 2018.
The portfolio remained largely dominated by motor insurance which accounted, alone, for 72.39% of the total premiums, that is 20.038 billion DZD (167 million USD), up by 2% in 2018. Fire and miscellaneous risks ranked second with 6.453 billion DZD (53.8 million USD) in premiums.
SAA which specialized, for a long time, in personal line risks, is struggling to diversify its portfolio. The company has been working in recent years to develop other classes of business than motor. In 2018, agricultural risks grew by 24.78%, Marine by 20.53% while fire and miscellaneous risks increased by 7.67%.
The net result amounted to 2.9 billion DZD (24 million USD). The combined ratio improved by 1.64 points to 88.13%.
The shareholder's equity were also on the rise, going from 35.946 billion DZD (309 million USD) in 2017 to 37.347 billion DZD (311 million USD) in 2018.
Being Algeria's largest insurance company [4], SAA had a market share of 21.95% in 2018 compared to 21.72% one year earlier.