| |||||||||||||||||||
 |
| ||||||||||||||||||
|
|
So this company will be the first foreign insurance company that enters the Algerian market. The decision taken by this company comes as part of the strategy of enlargement that is being adopted by the National Bank of Paris “BNP Paribas” that has presented its agreement demand for Cardif as a branch affiliated to it. The procedure that was unveiled by the French economic daily La Tribune and the site that is specialised in insurances “Argos for insurances” will re-enforce the liberation of insurances market on the background of the new law in the sector. It is expected that the French company will be operational before the end of the current year, in case all agreement procedures were done. This is the second branch of Paribas bank that will be opened after Cetelem that is entering the Algerian market in a short period. It is expected that the French company will focus on life insurance being considered as one of the leading companies in this field, plus creditors insurances since this speciality will be fertile considering the growing number of Algerian and foreign companies. Cardif Company was created in 1973 specialising in life and retirement collective contracts insurances, plus compensations for the end of the career and big, medium and small companies insurance as well. Algeria branch will be the second in Africa after South Africa. The company is working in 32 countries, most of them in Europe and North America and Latin America and Asia. The company covers more than 35 millions assured. S. Hafid — El-Khabar | ||||||||||||||||||
|
| |||||||||||||||||||
“Cardif” first French insurance company to enter Algerian market