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Nov 2019

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Algeria: Insurance market saw marginal growth in 2018

Source: Middle East Insurance Review | May 2019

The Algerian insurance market grew marginally at 2.2% with a turnover of DZD142.6bn ($1.2bn) in 2018 compared to 2017, according to the National Council of Insurance (CNA).
 
The P&C insurance business predominated, with premiums amounting to more than DZD126bn, an increase of 3.2% over 2017, reported the local media citing CNA data. This represented a market share of 88.4%. Life and health insurance business fell by a marked 10.5%, amounting to DZD12.2bn.
 
By branch in the P&C sector, motor insurance was still the largest in terms of premiums that totalled DZD68.9bn in 2018 (+5.2%). The motor segment accounted for 54.7% of the P&C sector.
 
Total settlements made by all insurers in 2018 amounted to DZD67.4bn, marginally higher by 0.8% compared to DZD66.9bn in 2017. M 
 
DZD1 = $0.08
 
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