THE COMPANY: Alliance Assurances is a joint stock company founded in December 2004 by a consortium of Algerian investors with an initial capital of AD500m (€4.7m); however, the company did not officially begin operations until 2006. In 2007, Alliance Assurances inaugurated a commercial development programme, which led to a 178%...
While still at an early phase of development, with few listed securities, Algeria’s capital markets are set to see a host of new listings. The exchange’s second initial public offering (IPO) of a private company took place in June 2013 (the first was in 2011), with several other firms expected to follow suit. The government is also working on a plan...
In February 2013 the IMF called on the Algerian authorities to take a number of measures to strengthen the financial system, including boosting banking intermediation and further tackling non-performing loans (NPLs) at public banks. The country benefits from a sizeable and liquid banking sector, but key indicators for activity and usage remain...
Against the backdrop of a large government homebuilding programme, state banks are stepping up the role they play in housing and real estate finance. Outside of the public housing segment, cheap long-term mortgages are available, in particular from public banks, though retail mortgages are dwarfed by state spending on housing and supply remains an...
As is the case in many emerging markets, the Algerian insurance sector is characterised by both low penetration rates and much room for growth, particularly given the large domestic market and robust outlook for retail segments. The life segment is small and shrank in 2012 following the compulsory separation of life and non-life businesses.
The Algerian banking industry remains dominated by six state-owned banks, which account for the majority of market share; however, private institutions, all of which are foreign-backed, are growing rapidly. In contrast to Morocco and Tunisia, the sector is characterised by very high levels of liquidity, which makes for a stable financial system but...
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