Low penetration rate of agricultural insurance

Only 18% of the 1.2 million farmers registered with the national chamber of agriculture have underwritten an agricultural insurance policy.
The turnover reported in 2013 with regard to agricultural risks amounted to 1.758 billion DZD (22.6 million USD), about 1.5% of total non life market.

The lack of communication and awareness of insurers are among the reasons behind this situation, in addition to the distribution of insurance products that are inconsistent with the new needs of farmers. CNMA, which owns 80% of the agricultural insurance market in Algeria, decided to react by offering tariff reductions up to 50% depending on the region.

As from the end of this year, CNMA will start marketing new products such as those related to yield decline for potatoes and grains.
CNMA employs 2600 people with 76 regional funds and 400 offices scattered nationwide.

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