50th Anniversary of the Algerian Insurance and Reinsurance Company (CAAR)
The Algerian Insurance and Reinsurance Company was created on June 8, 1963 as a fund responsible for legal transfer with the aim of allowing the Algerian State to control the insurance market after the departure of foreign insurance companies.
Since the economic reforms introduced by the laws of 1988, CAAR has been transformed into a joint stock company of which the Ministry of Finance is the sole shareholder.
The CAAR commercial network includes 5 regional branches, 125 agencies including 41 in intermediation (general agents). The majority of agencies are located in areas with a high density of industrial complexes due to their specialization.
The CAAR is primarily responsible for covering major risks requiring in-depth techniques. These include the risks of fires and explosions, industrial risks as well as various risks that affect agriculture, maritime and air transport, hail and livestock mortality.
After 50 years of existence, the insurance sector has undergone several stages and multiple reforms which have had the expected results. The contribution of the insurance sector to the national economy is significant and the sector's turnover has continued to increase over the years.
Since the economic reforms introduced by the laws of 1988, CAAR has been transformed into a joint stock company of which the Ministry of Finance is the sole shareholder.
The CAAR commercial network includes 5 regional branches, 125 agencies including 41 in intermediation (general agents). The majority of agencies are located in areas with a high density of industrial complexes due to their specialization.
The CAAR is primarily responsible for covering major risks requiring in-depth techniques. These include the risks of fires and explosions, industrial risks as well as various risks that affect agriculture, maritime and air transport, hail and livestock mortality.
After 50 years of existence, the insurance sector has undergone several stages and multiple reforms which have had the expected results. The contribution of the insurance sector to the national economy is significant and the sector's turnover has continued to increase over the years.