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AM Best has awarded Société Nationale d'Assurance (SAA) a “B” (satisfactory) financial strength rating and a “bb+” long-term credit rating. The outlook is stable.
The rating highlights the Algerian insurer's strong balance sheet, adequate operating performance, neutral business profile and marginal enterprise risk management.
Over the 2019-2023 period, SAA recorded a pretax profit ranging between 2.5 billion DZD (22.6 million USD) and 3.6 billion DZD (31 million USD). The average return on equity (ROE) and the average combined ratio over five years stood at 6.3% and 97.5% respectively.
With a turnover of 30.2 billion DZD (226 million USD) in 2023, the company holds a leading position in the Algerian insurance market .
