L'Algérienne Vie, also known as Algerian Gulf Life Insurance Company (AGLIC), has ended the 2022 financial year with a 43% increase in its turnover to 2.897 billion DZD (21 million USD).
The insurer's business is dominated by the death and disability class of business, with 1.442 billion DZD (10.5 million USD), followed by the health & benefits and accident classes of business, with respective premium inflows of 1.12 billion DZD (8.1 million USD) and 335 million DZD (2.4 million USD) in 2022.
The net profit went up by 15% to reach 235 million DZD (1.7 million USD) on 31 December 2022.
The settled claims totalling 783 million DZD (5.7 million USD) were up 8.5% over one year.
Created and licensed in 2015, AGLIC's shareholders include Gulf Insurance Group (GIG) (42.5%), Cash Assurances (42.5%) and the National Bank of Algeria (15%).
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