Algeria: Premiums up 2% in 2015 to US$1.2 bln

Source: Middle East Insurance Review | Apr 2016

The Algerian insurance market grew by 2.2% in 2015, with total turnover reaching DZD130.8 billion (US$1.2 billion), according to the National Insurance Council (CNA). The market remained largely dominated by the non-life business, which reported premiums of DZD118.1 billion or 92% of the total.

Growth was driven primarily by life and health insurance, which saw premiums increase by 23% to DZD10.6 billion last year, reported the Algeria Press Service citing the CNA report.

In the non-life sector, despite a significant decline in vehicle imports in 2015, motor premiums rose by 1.3% to DZD66.2 billion, accounting for 56% of the total market. Fire and diverse risk insurance, which represents a market share of 34.8%, saw premiums dip by 0.5% to DZD41.1 billion.

Compensations paid to policyholders amounted to DZD59.2 billion in 2015 against DZD56.2 billion in 2014, an increase of 5.4%.

There are currently 23 insurers and one reinsurer in the Algerian market.

DZD10 = US$0.09

Comment | Print

Name*

Email*

Comment*

Code Verification*

Enter the code shown above in the box below.

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.