The Algerian insurance market's potential is around $7-8bn, far more than the "psychological threshold" of DZD200bn ($1.5bn) crossed in 2025, according to Mr Hassan Khelifati, Vice President of the Algerian Union of Insurance and Reinsurance Companies (UAR).
The insurance sector grew by 8.8% in 2025 to reach a record DZD200.5bn, including international acceptances, last year.
In Mr Khelifati’s view, to realise the market potential, it is necessary to accelerate the adoption of the new insurance law and establish regulations to support the reforms, reported El Moudjahid.
Noting the persistence of certain practices such as underreporting, Mr Khelifati indicates that for natural disaster, fire, and liability insurance, “reports must be prepared by the auditor”. He believes that control mechanisms need to be put in place, which will serve as levers for the sector to thrive.
As for last year, the National Insurance Council (CNA), in its latest economic outlook, highlights overall continued growth in most branches of insurance, particularly in property and casualty insurance, which accounted for nearly 83% of the market’s total premiums or DZD166bn.
Mr Youcef Benmicia, UAR President, stated that the automotive and miscellaneous risk sectors drove the overall growth. He added that growth in the motor branch was due to an increase in third-party liability insurance premiums as well as new registrations of imported and locally manufactured vehicles.
Growth in the miscellaneous risk branch was due to the country's economic recovery, driven by the implementation of major infrastructure projects, which required insurance coverage.