The Algerian insurance market has posted total premium volume of DZD56.9bn ($439m) in 1Q2025, 13.3% higher than in the corresponding quarter in 2024, including international acceptances and retakaful, the National Insurance Council (CNA) indicated in its latest economic report.
1Q2025 premium volume
|
|
Premiums
|
Y-o-Y
|
Market share %
|
|
1Q2025
|
1Q2024
|
change
|
1Q2025
|
1Q2024
|
|
Conventional insurance
|
|
P&C
|
46,749
|
40,739
|
14.8%
|
82.2%
|
81.2%
|
|
Life
|
6,492
|
5,984
|
8.5%
|
11.4%
|
11.9%
|
|
Total
|
53,241
|
46,723
|
14.0%
|
93.6%
|
93.1%
|
|
Takaful
|
|
General
|
129
|
73
|
77.9%
|
0.2%
|
0.1%
|
|
Family
|
105
|
41
|
156.6%
|
0.2%
|
0.1%
|
|
Total
|
234
|
114
|
106.3%
|
0.4%
|
0.2%
|
|
Total direct market
|
53,475
|
46,837
|
14.2%
|
94.1%
|
93.4%
|
|
International acceptances
|
3,379
|
3,324
|
1.7%
|
5.9%
|
6.6%
|
|
Retakaful
|
0
|
0
|
-
|
0
|
0
|
|
Grand total
|
56,854
|
50,161
|
13.3%
|
100.0%
|
100.0%
|
|
Source: National Insurance Council
|
The CNA quarterly statistics indicate that takaful business surged in 1Q2025, given that this segment is not as mature as conventional insurance business and its premiums are still low.
Motor insurance, which accounted for 48.2% of total property and casualty insurance activity, recorded a turnover of nearly DZD22.6bn in 1Q2025, an increase of 5% compared to 1Q2024. The branch maintained its lead as the biggest branch in terms of premiums.
The growth in the motor branch was mainly driven by mandatory motor third-party liability (MTPL) insurance which saw a 15% increase in premium rates that took effect on 1 January 2025.
In December 2024, the Algerian government announced a total increase of 30% in MTPL premiums. The increase was implemented in two phases: 15% wef 1 January 2025, and the remaining 15% from 1 July. On average, this increase represents around DZD600 ($4.65) on the annual motor insurance premium, split into two tranches of AED300 each.