Algeria: 2016 results mirrors 2015's performance
Source: Middle East Insurance Review | Mar 2017
The performance of the insurance market in 2016 is unlikely to be significantly different from that of 2015, according to Mr Brahim Djamel Kassali, President of the Algerian Union of Insurance and Reinsurance Companies (UAR).
“There will certainly be a slight increase in the turnover of the insurance market in 2016, driven by personal insurance and industrial risk insurance,” he told Maghreb Emergent.
In 2015, the Algerian insurance market grew by less than 2% to DZD127.9 billion (US$1.15 billion), he said. Insurance business was affected by a sharp contraction in imports, particularly vehicle imports which fell by around 50%, affecting motor and transport insurance. At the same time, the economic situation slowed infrastructure projects which hit the engineering branch.
DZD10 = US$0.09