Algerian insurance market: turnover decrease in H12020

insuranceAccording to data published by the Algerian Union of Insurance and Reinsurance Companies (UAR), the Algerian insurance market recorded, in H1 2020, a turnover decline of 13.5%. The latter went from 78 billion DZD (654.59 million USD) during the first six months of 2019 to 67.4 billion DZD (520.61 million USD) twelve months later.

Such decline is mainly due to the economic crisis caused by the Covid-19 pandemic.

With the exception of the fire activity, engineering and motor insurance declined by 40% and 11% respectively during the period under review. Personal insurance fell by 13%, mainly due to a 55% drop in travel insurance. In Algeria, travel insurance is classified as a personal insurance activity.

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