Algeria: Largest insurer eyes growth in overseas, starting with Africa

Source: Middle East Insurance Review | Nov 2023

Algeria’s biggest insurance company, the state-owned National Insurance Company intends to expand its operations abroad.

The insurer plans to do this by first venturing to other parts of Africa, initially opening its branches in countries where Algeria has banking agencies, reported Algerian media Echorouk.

The insurer said that the home insurance sector in Algeria is evolving at a slow pace, due to the lack of an insurance culture among Algerians, despite the large number of thefts and the high percentage of housing damaged by natural disasters and other accidents to which houses are exposed.

SAA said that 9% of the national housing stock is covered by insurance. M

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