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would sooner submit an accreditation file to the Ministry of Finance in order to invest in the field of life insurance that still attracting more companies after the release of the new Insurance Act. The source added that several other insurance companies from France are expected to submit their accreditations together with some insurance cooperatives that are studying the Algerian market. Sogecap would begin its activities in Algeria before the end of 2007 stated the official who added that life insurance average, which did not exceed 2%, has recorded an increase, reaching 10% of the whole insurances. This raising is due; to increase in travel contracts subscription incorporated in visa application files, in addition to the improving recorded in insurance on real estate loans. Sogecap is, by the way, the second French company accredited in Algeria after Cardiff which is a branch of the French BNP Paribas Bank. | ||||||||||||||||||
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“Sogecap” invests in the Algerian insurance market