Alliance assurances validates the payment of a dividend of 35 dinars

Alliance assurances announced positive financial results in 2021 on Wednesday, June 15, despite a year ” trying at all levels, due to the pandemic And delays in the Algerian economy.

« 2021 was a trying year at every level, due to the pandemic. We deplore the loss of friends, co-workers, and family members. We had some very distressing and painful times. We always think of them; to their families and to all Algerians who have endured the loss of human lives. This has not been without consequences for the economic crisis and the new pier. The latter was severely impacted by confinement and all resulting restrictions Private company boss Hassen Khelifati told a joint meeting of the Joint General Assembly on June 2.

Alliance Assurances had sales of 4.823 billion dinars compared to 4.728 billion dinars in 2020, an increase of 2%.

« As for the global market, it registered an increase of + 4.8% with a decline in cars of – 3.8%. The market was driven by the IARD branch, in particular international insurance, which adjusted its tariffs upwards (more than 30 and 40%) to cover large national risks. The insurance company said in a statement.

Dumping

The private company adds ” A finer analysis of the branches indicates that everything related to the premises has declined due to dumping and non-compliance with the minimum tariffs and this applies to all branches. ».

Outside, Alliance assurances ended the year 2021 with a result of 502 million dinars against 481 million dinars in 2020, an increase of 4.5%.

This increase will benefit the company’s shareholders, which are listed on the Algiers Stock Exchange. For dividends to be distributed, Alliance assurances states that the value of the dividend per share has been set at 35 dinars against 32 dinars in 2020, which is a annual return of more than 9% net compared to the updated share price ». « These dividends will be paid on a regular basis, ie before September 30, 2022 “, Says the Alliance’s assurances.

The private company remarks that its action « has strong demand and its value has increased during the year (almost 60%) compared to the same period of the year 2021 ».

Alliance Assurances was pleased to continue to create value for its shareholders and the stock market, driving a regular dynamic ».

Alliance Assurances claims to be “ to achieve positive results through tax management efforts, better control of claims to combat fraud, continuous improvement of service quality and reduced repayment deadlines ».

« A particular effort was agreed in terms of innovation, product and services, as well as maintaining a communication effort in all parties involved. She added.

On the downside, Alliance Insurance regrets that the situation in the Algerian insurance market remains ” unchanged ” and other ” The same problems persist despite the many calls for urgent and effective intervention by the regulator to put an end to the various distortions and drifts that persist. »

To illustrate this, she cites the potential of the insurance market in relation to national GDP and the rate of penetration of equivalent markets, which is the ” 0.7% lower while it is 3-4% in Africa, 6-7% in the world and more than 1.5% in the Arab world ».

Untapped potential

« Experts capitalize on potential in Algerian insurance market between $ 5 billion and $ 7 billion for when it barely exceeds $ 1 billion », Underlines the assurances of the Alliance.

For the private company, what potential « untapped Calls on all actors to identify the why and find the strategic, regulatory and operational responses to be made to unlock the potential and assets of the insurance industry’s driving role in capturing quasi-savings as an institutional investor in the financial market, to continue to irrigate investment ».

Warning

Alliance Insurance Deplores Practices ” observed and experienced on a daily basis in the example of dumping, undercharging, prolongation of repayment periods, customer dissatisfaction, the inability of insurance companies to meet their commitments for ridiculous cash premiums, the inadequacy of mandatory tariffs versus financial cost and frequency of claims, the accumulation of claims on policyholders often difficult to recover, the discrimination in the private sector that prevents it from accessing certain public markets, even the most modest , non-compliance with professional collective commitments… ». « All of this poses a lot of uncertainty about the creditworthiness and financial balance of the market », Met the assurances of the Alliance en garde.

She recalls having “ advocated and advocated for the rapid establishment of an Independent Regulatory Authority as well as the revision of fundamentals such as the prohibition of discrimination and the sale of credit; revision and indexation of tariffs versus compensation scale, reduction of repayment deadlines and the improvement of the quality of services; Introducing innovation in products, services and means of payment, as well as all aspects related to the liberalization of market players’ initiatives ».

For Alliance Insurance, the coverage ” effective ” and ” fast Of these sectoral claims will allow the Algerian market to have insurance of « cleavage “And” exceed the glass ceiling of 1% of the GDP penetration rate ».

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