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Algeria tag returned 219 results

  • Algeria: Growth expected to hold steady in coming years

    The insurance market has sustained its growth trajectory over the past five years and legislative amendments have contributed to enhancing its contribution to the national economy.

    Middle East | 11 Feb 2025
  • Algeria: Insurers to play a fundamental role in the stock market

    The Ministry of Finance is currently studying the new draft law on the financial market, which will replace 1993 stock exchange legislative decree. Among the important reforms is the inclusion of insurance companies as intermediaries in stock exchange operations, Islamic bonds and green financing, which will contribute to strengthening this market and making it more attractive, said the Algerian Union of Insurance and Reinsurance Companies (UAR) general director Abdelhakim Berrah.

    Middle East | 12 Jan 2025
  • Algeria: Insurance market increases by 5% in 3Q2024

    The insurance sector in Algeria achieves a high turnover in the first 9 months of the preceding year, with international acceptances and takaful showing huge growth.

    Middle East | 06 Jan 2025
  • Algeria: Motor insurance policies to go digital

    The Algerian Union of Insurance and Reinsurance Companies (UAR) plans to digitise the vehicle insurance certificate to allow policyholders to obtain it online, the UAR president, Mr Youcef Benmicia, has announced.

    Middle East | 16 Dec 2024
  • Algeria: Government to bar use of cash to pay for mandatory insurance premiums

    The Algerian government will prohibit cash payments in the insurance, real estate, and automobile sectors in a fight against moneylaundering, tax evasion, and other black market activities.

    Middle East | 12 Dec 2024
  • Algeria aims to become key player in trade insurance in Africa and Arab-Muslim world

    Algeria aspires to become a major player in facilitating and ensuring trade in Africa and the Arab-Muslim world, as part of its support for initiatives aimed at promoting fair and dynamic international trade, Finance Minister Laaziz Faid.

    Middle East | 11 Dec 2024
  • Algeria: Insurance market grows by 8.8% in 1H2024

    The Algerian insurance market generated a turnover of DZD90.2bn ($676m) in the first half of 2024, increasing by 8.8% compared to the corresponding period in 2023, according to the National Insurance Council (CNA) in its latest report on the sector.

    Middle East | 28 Oct 2024
  • Algeria: Securities market regulator proposes allowing insurers to act as stock market intermediaries

    The Commission for the Organisation and Supervision of Stock Market Operations (Cosob), which monitors the securities market in Algeria, has proposed to public authorities to explore the possibility of insurance companies serving as intermediaries in the stock market.

    Middle East | 24 Oct 2024
  • Algeria: Market leader shows good technical profitability and moderate investment returns

    State-owned Société Nationale d'Assurance (SAA or National Insurance), Algeria's biggest insurer, has a track record of stable operating performance, with profit before tax ranging from DZD2.5bn ($22.6m) to DZD3.6bn between 2019 and 2023, translating in a five-year weighted average return on equity of 6.3% (as calculated by AM Best).

    Middle East | 13 Oct 2024
  • Algeria: Conventional insurers could open takaful windows to tap Islamic insurance growth

    Takaful insurance is experiencing fast growth in Algeria, backed by an enabling legislative and regulatory framework. As the sector grows, it is likely that new players will enter the market, driving competition and innovation.

    Middle East | 09 Oct 2024