News Middle East23 Apr 2020

Algeria:Market share of P&C business shrinks in 2019

| 23 Apr 2020

The insurance market in Algeria saw total direct and reinsurance premiums increase by 6.1% to DZD152.1bn ($1.2bn) in 2019, against DZD143.3bn in 2018, according to data issued by the National Insurance Council (CNA).

The details are:

 

Premiums DZD m

Market share

 

2019

2018

Change

2019

2018

P&C

131,849

126,169

4,5%

86.7%

88.0%

Life

14,330

12,789

12.0%

9.4%

8.9%

Total direct

146,179

138,958

5.2%

96.1%

96.9%

Reinsurance

5,888

4,377

34.5%

3.9%

3.1%

Total

152,067

143,335

6.1% 8

100.0%

100.0%

      Source: National Insurance Council, Algeria

Life insurance recorded growth of 12% to reach DZD14.3bn in terms of premiums in 2019. In terms of total market share, this represented 9.4% (2018: 8.9%).

Non-life insurance was the dominant business, with premiums rising by 4.5% to DZD131.8bn in 2019. This represented an overall market share of 86.7%.

Motor business contributed DZD69.2bn or 52.5% of total non-life insurance premiums. Of this, compulsory motor third party liability insurance increased by 15.4% to DZD17bn, representing a share of 24.6% of the branch's portfolio. On the other hand, optional motor cover dominates this branch with a 75.4% share, with premium income falling by 3.8% to DZD52.2bn in 2019.

The fire and diverse risk branch recorded premiums of DZD51.5bn, an increase of 10.4%.

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