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%.