A 20% growth of the premiums collected by insurers in 2013

The insurance and reinsurance union (UAR) has estimated that market turnover could attain 120 billion DZD (1.54 billion USD) in 2013, compared to 99.92 billion DZD (1.28 billion USD) in 2012, which would be an increase of 20% over one year.

Despite these encouraging estimates, industrial risk insurance is still below desired levels. According to A. Latrous, chairman of UAR, this class of business could account for 30% of total turnover by the end of the year. The average amount spent by companies for their insurance is 498 000 DZD (6 404 USD).

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