Algerian insurance market: turnover decrease in Q1 2020

turnoverThe national insurance council (CNA) has published the provisional results of the Algerian insurance market on 31 March 2020.

The turnover of the Q1 2020, including all activities, amounted to 40.6 billion DZD (326.41 million USD) against 42.7 billion DZD (354.23 million USD) as at 31 March 2019. Thus degrading by 4.9% over one year.

As at 31 March 2020, the direct market accounted for 97.7% of total premiums, that is, 39.6 billion DZD (318.37 million USD), a decrease of 5.3% over twelve months. International reinsurance acceptances have increased by 11.3% to reach 951.9 million DZD (7.65 million USD) against 855.4 million DZD (7.096 million USD) in 2019.

The P&C activity accounted for 87.8% of total premiums, that is 35.6 billion DZD (286.21 million DZD), thus declining by 5.3%. This activity is driven by motor insurance which, with 56.2% of the total portfolio, recorded 20 billion DZD (160.79 million USD) in premiums. A decline of 6.9% compared to the 21.5 billion DZD (178.36 million USD) recorded at the end of Q1 2019.

It is followed by the Fire and Miscellaneous Risks (IRD) activity which recorded 13.3 billion DZD (106.93 million USD) : up by 0.2% with 37.3% of market share. The transport, agriculture and credit insurance activities come next. As for personal insurances, they recorded a 5.1% drop in collections that were set at 3.98 billion DZD (32 million USD).

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