The insurance company , El Djazair Takaful, has started to distribute its insurance surplus to insured companies and individuals, according to a statement released by the company.
"After the closing of the 2023 financial year and the achievement by the participants' fund of a surplus of almost 23% of the total contributions due, for the year 2023, the company began this week the delivery of insurance surplus cheques to insured companies and individuals, a process that will continue in the coming days to include all the participants concerned," reported the Algerian Press Service quoting the media release.
The company is one of two companies specialising in takaful in Algeria, with El Djazair El Moutahida Family Takaful. Both were created in 2022, following the promulgation of legal texts governing this activity in 2021.
El Djazair Takaful undertakes general insurance, while El Djazair El Moutahida Family Takaful is active mainly in family takaful.