Africa News - Algeria: Premiums up 6.5% to US$642 mln in 1H
Source: Middle East Insurance Review | Dec 2015
The Algerian insurance industry achieved a total turnover of DZD69.15 billion (US$641.5 million) in the first half of 2015, up 6.5% y-o-y, according to the National Insurance Council (CNA).
Non-life insurance continues to dominate, with a share of 91.2% of the overall insurance market in the first half, compared to 92.9% in the same period in 2014.
Auto business raked in premiums of DZD36.25 billion in the first half, a growth of 2.72% and representing 58.3% of total non-life premiums, reported the Algerian Presse Service. Fire and miscellaneous risks reported premiums of DZD21.06 billion from January to June, 7.39% higher compared to the corresponding period of the previous year.
Life premiums soared by 30% to DZD6 billion in the first half, compared to DZD4.6 billion in the corresponding period last year. The bulk of this was generated by group insurance with premiums of DZD2 billion, an increase of 63.4%.
There are 24 insurance and reinsurance companies operating in Algeria.
DZD100 = US$0.93