Algeria: Insurance sector saw stable premium growth in 9M18
Source: Middle East Insurance Review | Feb 2019
The Algerian insurance market achieved a turnover of DZD105.4bn ($887.4m) in the first nine months of 2018, an increase of 3% over the DZD102.3bn posted for the corresponding period of 2017, according to the National Insurance Council (CNA).
Revenues from P&C insurance predominated, standing at DZD94bn which was 4% higher compared to the corresponding nine months in 2017, reported Algerian Press Service.
In contrast, life and health premiums decreased by 13.1% to DZD8.7bn.
By branch of business in P&C insurance, motor remained the largest with premiums of more than DZD52bn between January and September 2018, 5% higher. The automobile division held 55.4% of the P&C insurance portfolio in the first nine months of 2018.
Nat CAT insurance premiums surged by 111% to DZD3.9bn during the period, due to tariff increases. M
DZD1 = $0.08