# Compagnie Centrale de Réassurance

The Compagnie Centrale de Réassurance (Central Reinsurance Company) is a parastatal reinsurance corporation headquartered in Algiers, Algeria. Founded in October 1973, it is wholly owned by the Ministry of Finance.

## History

Decree No. 73-54 of 1 October 1973 established the Compagnie Centrale de Réassurance and approved its articles of association.
The CCR is a public establishment of an industrial and commercial nature whose purpose is to carry out reinsurance operations in all its forms, contribute to the development of the national reinsurance market and increase the market's capacity and retention.
Placed under the supervision of the Ministry of Finance, the CCR was upon its creation, the only entity authorized to carry out reinsurance operations with foreign countries, either in the form of acceptances or retrocessions.
At the time of its creation, CCR inherited the reinsurance portfolios of the direct companies existing at the time, namely CAAR, SAA and the Caisse Nationale Mutuelle d'Assurance (CNMA).

## Share capital

The Compagnie Centrale de Réassurance is a 100% state-owned company. It started its activities with a share capital of 40 000 000 DZD (10 128 000 USD).
In 2020, the company's share capital reached 25 000 000 000 DZD (190 000 000 USD).
Several capital increases have been initiated between 1987 and 2020:
Share capital evolution :
| Year | DZD | USD | Exchange rate as at 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 | 0.018 |
| 2004 | 2 400 000 000 | 33 360 000 | 0.0139 |
| 2007 | 4 000 000 000 | 60 000 000 | 0.015 |
| 2008 | 5 000 000 000 | 72 000 000 | 0.0144 |
| 2009 | 13 000 000 000 | 182 000 000 | 0.014 |
| 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 | 0.009 |
| 2020 | 25 000 000 000 | 190 000 000 | 0.0076 |

## Shareholding

The Algerian Ministry of Finance is the sole shareholder of CCR.

## CEOs and general managers
### 2021 board of directors

| Chairman of the Board of Directors | Hadj Mohamed Seba |
| Members of the Board of Directors | Ilhem Gherieb |
| Members of the Board of Directors | Mohamed Belkacem |
| Members of the Board of Directors | Khaled Mouzaia |
| Members of the Board of Directors | Djamel Abdelli |
| Members of the Board of Directors | Kamel Marami |

## Chairmanship of the board of directors and general management

| CEOs | Period |
| Lamine Titah | 1974–1982 |
| Aoumeur Hadj Said | 1983–1984 |
| Farouk Lazri | 1984–1987 |
| Djamel Eddine Chouiter | 1987–2007 |
| Hadj Mohamed Seba | 2007 to date |

## Main activities

CCR underwrites both national and international facultative reinsurance treaties and risks. The reinsurer's activity includes life and non-life classes of business/
In 2020, CCR's turnover reached 33 624 million DZD (242 462 000 USD).
National acceptances represent 82% of the 2020 turnover while international business is limited to 18% and is mainly composed of treaties in the non-life classes of business.

## CCR's holdings in insurance and reinsurance companies

| Companies | Share capital | CCR participation in % |
| Africa Re | 285 140 500 USD | 3.05 % |
| Arab Re | 75 000 000 USD | 4.10 % |
| Med Re | 28 512 120 USD | 50.00 % |
| Compagnie algérienne d'assurance et de garantie des exportations (CAGEX) | 22 800 000 USD | 10.00 % |
| Compagnie d'assurance des hydrocarbures (CASH Assurances) | 76 000 000 USD | 5.98 % |
| Société de garantie du crédit immobilier (SGCI) | 15 200 000 USD | 2.10 % |
| Expertise Algérie (EXAL) | 3 800 000 USD | 37.20 % |
| Insitut des hautes études financières (IAHEF) | 1 140 000 USD | 7.20 % |
| École des hautes études d'assurance (EHEA) | 212 800 USD | 7.14 % |
| Imprimerie des assurances | 1 824 000 USD | 50.00 % |
| Djazair MED (SAGPS) | 2 280 000 USD | 40.00 % |

## Insurance pools

CCR manages three insurance pools:

### Algerian Catastrophe Insurance Pool (ACIP)

The natural catastrophe pool (ACIP) covers earthquake, flood, landslide and storm risks. Quota-share reinsurance treaties set the risk retention rate, namely 30% for the insurers and 70% for CCR.
A stop loss treaty protects cedants in the event of a high loss experience.

### Decennial liability pool

The decennial liability pool was created in 2009 by CCR and a group of Algerian insurers. The pool's initial capital is 2 billion DZD (US$27.96 million). The co-insurance's management has been entrusted to the Compagnie Centrale de Réassurance.

### Special risk pool

The special risk pool was established in 2018. It provides protection against political risks, civil unrest, acts of terrorism, etc. CCR manages this pool.