Algerian insurance market: good results in Q1 2021

insurance resultThe National Council of Insurance (CNA) published the provisional results of the Algerian insurance market as of 31 March 2021.

Despite the pandemic, the turnover of Q1 2021, all activities combined, increased by 7.7%. The latter went from 40.429 billion DZD (325.03 million USD) in Q1 2020 to 43.545 billion DZD (324.58 million USD) by late March 2021.

The direct market accounts for 93.6% of the total premiums, that is 40.775 billion DZD (303.93 million USD), which represents a 3.3% increase over one year.

With 85.2% of the market share, the non-life activity recorded a turnover of 37.085 billion DZD (276.43 million USD) as of 31 March 2021, thus rising by 4.3% compared to the same period of 2020.

This activity is driven by motor insurance which, with 52% of the total portfolio, recorded 19.274 billion DZD (143.67 billion USD) in premiums compared to 19.913 billion DZD (160.09 million USD) recorded at the end of Q1 2020. This stands for a 3.2% decline. It is followed by the non-life activity which rose by 13.6% and was set at 15.104 billion DZD (112.58 million USD).

Life insurances have witnessed a 5.9% decline in premium income, set at 3.69 billion DZD (27.5 million USD). They represent 8.5% of the total written premiums in Algeria as of 31 March 2021.

During the period under review, the international reinsurance acceptances have grown by 191% to reach 2.8 billion DZD (20.87 million USD) against 951.994 million DZD (7.65 million USD) at the end of March 2020.

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