Compagnie Centrale de Réassurance
| Company type | Government-owned corporation |
|---|---|
| Industry | Reinsurance |
| Founded | October 1, 1973 in Algiers, Algeria |
| Headquarters | Algiers , Algeria |
Area served | Algeria, international |
Key people | Abdallah Benseidi (Chairman of the Board) |
| Products | Reinsurance services (facultative and treaty, life and non-life) |
| Owner | Ministry of Finance (Algeria) |
Compagnie Centrale de Réassurance (CCR) is a government-owned reinsurance firm based in Algiers, Algeria. Established in October 1973, it is entirely held by the Ministry of Finance.
History
CCR was created by Decree No. 73-54 on 1 October 1973, which also ratified its bylaws.
Functioning as a public industrial and commercial organization, CCR specializes in reinsurance services with the objective of fostering the domestic reinsurance sector and improving its capacity and retention abilities.
Supervised by the Ministry of Finance, CCR initially held exclusive rights to conduct reinsurance operations involving foreign entities, including both acceptances and retrocessions.
At its founding, CCR took over the reinsurance portfolios previously managed by companies such as CAAR, SAA, and the Caisse Nationale Mutuelle d'Assurance (CNMA).
CCR is fully state-owned. It commenced operations with an initial share capital of 40,000,000 DZD (approximately 10,128,000 USD).
By 2020, the company's share capital had expanded to 25,000,000,000 DZD (around 190,000,000 USD), reflecting multiple increments made between 1987 and 2020:
| Year | DZD | USD | Exchange Rate (as of 31/12) |
|---|---|---|---|
| 1987 | 80,000,000 | 20,104,000 | 0.2513 |
| 1992 | 140,000,000 | 5,796,000 | 0.0414 |
| 1993 | 250,000,000 | 9,875,000 | 0.0395 |
| 1995 | 500,000,000 | 11,200,000 | 0.0224 |
| 1998 | 1,550,000,000 | 27,900,000 | 0.0180 |
| 2004 | 2,400,000,000 | 33,360,000 | 0.0139 |
| 2007 | 4,000,000,000 | 60,000,000 | 0.0150 |
| 2008 | 5,000,000,000 | 72,000,000 | 0.0144 |
| 2009 | 13,000,000,000 | 182,000,000 | 0.0140 |
| 2013 | 16,000,000,000 | 204,800,000 | 0.0128 |
| 2015 | 19,000,000,000 | 176,700,000 | 0.0093 |
| 2016 | 22,000,000,000 | 198,000,000 | 0.0090 |
| 2020 | 25,000,000,000 | 190,000,000 | 0.0076 |
| 2022 | 30,000,000,000 | 219,000,000 | 0.0073 |
This consistent increase in capital highlights CCR’s growing influence within Algeria’s reinsurance industry and its enhanced ability to underwrite larger volumes and support investments.
Ownership
CCR is entirely owned by the Algerian Ministry of Finance.
Board of Directors for 2024
| Chairman of the Board of Directors | Abdallah Benseidi |
|---|---|
| Board Members | Ilhem Gherieb |
| Toufik Seddiki | |
| Kamel Marami | |
| Mohamed Belkacem | |
| Djamel Adouane |
Chairmen and General Managers
| Chief Executive Officers | Tenure |
|---|---|
| Lamine Titah | 1974–1982 |
| Aoumeur Hadj Said | 1983–1984 |
| Farouk Lazri | 1984–1987 |
| Djamel Eddine Chouiter | 1987–2007 |
| Hadj Mohamed Seba | 2007–2022 |
| Abdallah Benseidi | 2022–present |
Core Business Activities
CCR engages in underwriting facultative reinsurance treaties and risks domestically and internationally across both life and non-life insurance sectors.
In 2024 fiscal year results showed a turnover of 50.057 billion DZD (equivalent to 366.4 million USD). Of this revenue stream, national acceptances comprised 80%, while international operations accounted for the remaining 20%, predominantly deriving from non-life treaty business.
CCR's investments in insurance and reinsurance entities
| Company | Capital stock | CCR ownership (%) |
|---|---|---|
| Africa Re | 293,679,500 USD | 3.05 % |
| Arab Re | 75,000,000 USD | 4.10 % |
| Med Re | 21,000,000 USD | 50.00 % |
| Compagnie algérienne d'assurance et de garantie des exportations (CAGEX) | 6,500,000 USD | 6.00 % |
| Compagnie d'assurance des hydrocarbures (CASH Assurances) | 20,000,000,000 USD | 3.99 % |
| Société de garantie du crédit immobilier (SGCI) | 3,000,000,000 USD | 2.09 % |
| Expertise Algérie (EXAL) | 4,000,000,000 USD | 37.20 % |
| Institut des hautes études financières (IAHEF) | 200,000,000 USD | 7.20 % |
| École des hautes études d'assurance (EHEA) | 112,000,000 USD | 6.25 % |
| Imprimerie des assurances | 500,000,000 USD | 50.00 % |
| Djazair MED (SAGPS) | 300,000,000 USD | 40.00 % |
Insurance pools managed by CCR
CCR oversees three distinct insurance pools:
Algerian Catastrophe Insurance Pool (ACIP)
This pool provides coverage for natural disasters including earthquakes, floods, landslides, and storms. Risk is shared through quota-share reinsurance agreements with a retention rate of 30% for insurers and 70% for CCR. Additionally, a stop loss treaty safeguards cedants from excessive losses.
Decennial liability pool
Formed in 2009 with starting capital of 2 billion DZD (approximately US$27.96 million), this pool addresses decennial liability risks and is jointly administered by CCR alongside Algerian insurance companies.
Special risk pool
Established in 2018 under CCR's administration, this pool offers protection against political risks such as civil disturbances and terrorism-related exposures.