The Algerian insurance company, Alliance Assurances, launched a new insurance product exclusively reserved for startups in the country. This offer is a first on the national market, run by 24 insurance companies, including 13 damage insurance companies, 8 personal insurance companies.
In a press release dated November 29, 2020, the company explains that “this new insurance product is available in several formulas with attractive rates”, adding that “these packs cover the risks associated with the direct or indirect activity of the startup ”.
In addition to presenting a variety of guarantees, this product offers the possibility for entrepreneurs to obtain 8 types of insurance. These are auto insurance, legal protection insurance, liability insurance, fire insurance, theft insurance, natural disaster insurance, computer damage and loss insurance. data and business interruption insurance.
Any startup can, if they wish, subscribe to these different formulas offered at the level of the 265 branches of the country. The main objective of the initiative is to support young entrepreneurs with the potential for economic growth so that they contribute significantly to the creation of wealth in the country.
Listed on the Algiers stock exchange, Alliance Assurances is a company specializing in insurance and reinsurance. It announced a turnover of 5.2 billion dinars (approximately 40 million USD) for the year 2019, up 4% compared to the previous year. Net income stood at 482 million dinars (approximately $ 3.7 million), an increase of 4.3% year-on-year.