2023-12-05 19:10:40
ORAN – The CEO of the Algerian Insurance Company (CAAT) Nasser Sayes underlined, Tuesday in Oran, that the insurance sector in Algeria is moving more towards participation in the national economy, through the modernization of its performance, diversification of the portfolio of activities and services to meet customer requirements and the needs of the economy.
Mr. Sayes declared to the press, on the sidelines of a conference organized by the CAAT on the theme “insurance, a factor of resistance and economic development”, that we must work to increase the contribution of the insurance sector to the gross national product, through the modernization of performance and the diversification of the services provided, emphasizing that the participation rate is currently estimated at 0.7%.
The same official added that such an objective “is part of the new economic vision approved by the public authorities, through which they aspire to make the national economy more open, more diversified and a source of relief from dependence on hydrocarbons”.
He also mentioned the national strategy put in place by the highest authorities within the framework of the new economic perspectives, in order to gradually evolve towards a wealth-creating and diversified economy, capable of competing on international markets.
According to Mr. Sayes, “this new strategy will encourage the insurance market to work to resolve all its problems and increase its turnover and its rate of participation in the national economy.”
The same official announced a new bill relating to the insurance sector, which will be presented to Parliament in the future, prepared with the participation of all stakeholders in the insurance sector.
Its provisions will allow the insurance sector to make a qualitative leap in its contribution to the national economy, he stressed.
The same speaker welcomed the decision of the President of the Republic, Mr. Abdelmadjid Tebboune, relating to the opening of public banking capital, which is a good indicator for the economy, which should give positive results to the insurance sector and will play a major role in financing the national economy and encourage long-term savings.
The national economic sector has recorded strong activity in recent times, he added, hoping that national insurance companies “will keep pace with all this movement and the desire of the public authorities to advance the economy “.
In a market characterized by great competitiveness, CAAT achieved, over the past year, a turnover of 26.7 billion DA, which strengthened its position as the second largest insurance company on the national market. , it was indicated, while increasing its capital over the past year by 5 billion DA to reach 25 billion DA.
During this meeting, several interventions were animated, including “the role of reinsurance in strengthening the insurance sector”, “insurance as a factor of flexibility and economic development”, among others, during which Global developments and the latest developments in the reinsurance field were discussed, particularly with regard to emerging risks and climate change.
1701825661
#insurance #sector #moving #participation #national #economy
