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Compagnie Centrale de Réassurance (CCR) has published its annual report for the year ended 31 December 2023. The company's turnover reached 46.546 billion DZD (347.3 million USD), up by 14.6% over one year.
Premium volume is broken down as follows:
Figures in millions| Classes of business | 2023 turnover | 2022 turnover | Evolution* | ||
|---|---|---|---|---|---|
| DZD | USD | DZD | USD | ||
| Fire. property damage | 35 217 | 262.81 | 29 707 | 221.69 | 18.50% |
| Natural catastrophes | 4 340 | 32.39 | 4 506 | 33.63 | -3.70% |
| Marine | 2 987 | 22.29 | 2 779 | 20.74 | 7.50% |
| Aviation | 1 954 | 14.58 | 2 162 | 16.13 | -9.60% |
| Takaful damage | 6 | 0.04 | - | - | - |
| Total non-life | 44 504 | 332.11 | 39 154 | 292.19 | 13.70% |
| Life and health insurance | 2 034 | 15.18 | 1 465 | 10.93 | 38.80% |
| Life and health Takaful | 9 | 0.07 | - | - | - |
| Total Life and Health | 2 043 | 15.25 | 1 465 | 10.93 | - |
| Grand total | 46 546 | 347.36 | 40 619 | 303.12 | 14.60% |
*in local currency
Net income increased by 19.7% to 6.271 billion DZD (46.79 million USD).Financial income amounted to 4.627 billion DZD (34.5 million USD) against 4.064 billion DZD (30.3 million USD) in 2022, representing a 14% growth.
incurred losses were up by 72.92% to 23.881 billion DZD (178.2 million USD). The combined ratio improved by 3.37 points to 73.95%, compared with 77.32% at the end of 2022.
Technical reserves rose by 17.25% year-on-year to 70.38 billion DZD (525.2 million USD).
As at 31 December 2023, CCR's shareholders' equity stood at 44.788 billion DZD (334.2 million USD). Share capital remains unchanged at 30 billion DZD (223.8 million USD).
