Algerian insurance market: positive result in the first half of 2019

noteDespite a difficult economic and political environment, the Algerian insurance market has reported good results during the first half of 2019.

The turnover amounted to 80.8 billion DZD (678.086 million USD), up by 9.4% compared to the same period of last year. It included direct insurance premiums and international reinsurance acceptances.

As of June 30, 2019, the direct market collected 95.5% of premiums, that is 77.253 billion DZD (648.319 million USD), an increase of 7.9% in one year. International reinsurance acceptances grew by 55.7%, from 2.305 billion DZD (19.343 million USD) at June 30, 2018 to 3.590 billion DZD (29.448 million USD) 12 months later.

Apart from reinsurance acceptances, the turnover was mainly driven by non-life insurance, which accounted for 69.9 billion DZD (586.611 million USD) of the premiums. Motor insurance alone contributed with 37.6 billion DZD (315.545 million USD) representing 53.7% of non-life premiums, followed by fire and miscellaneous accident insurance with 27.1 billion (227.427 million USD) and a growth rate of 12.8%. Marine insurance, agricultural risks and credit insurance followed in descending order.

With 7.328 billion DZD (61.497 million USD), life insurance grew by 9% in the first half of 2019. International acceptances, which accounted for 4.4% of the market's gross turnover, rose sharply (+55.7%) at 3.591 billion DZD (30.136 million USD).

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