Algerian insurance market in Q1 2022

The National Insurance Council (CNA) published the provisional quarterly results of the Algerian insurance market.

As at 31 March 2022, the turnover of all local insurers, all activities included, reached 45.794 billion DZD (320.28 million USD), thus increasing by 5.2% compared to the 43.527 billion DZD (324.44 million USD) recorded in the first quarter of 2021.

The direct market accounts for 96.1% of the total premium income, that is 43.996 billion DZD (307.7 million USD). This amount has grown by 7.9% over one year.

The non-life class of business has shown a 6% progression of written premiums at 39.238 billion DZD (274.42 million USD), that is, 85.7% of the market share.

As for personal insurance, the turnover amounted to 4.758 billion DZD (33.28 million USD), showing a 26.9% increase over a year. This activity represents 10.4% of the total written premiums in Algeria as at 31 March 2022.

In Q1 2022, international reinsurance acceptances stood at 1.798 billion DZD (12.57 million USD), declining by 35.1% compared to the same period in 2021.