Algeria: Salama assurances, 2015 results

Salama assurances is gearing up its development strategy, at a pace above that of the national average. While the life and non life market reported a 2.2% progression in 2015, the company is posting a 4.8% year-on-year growth in national currency. Its premium volume has therefore evolved from 4 491 404 892 DZD (51 382 000 USD) in 2014 to 4 707 406 910 DZD (44 165 000 USD) in 2015. Its market share has also risen, going from 3.8% to 4% in 2015.

With a collection of 3 616 347 588 DZD (33 929 000 USD) and a market share of 77%, the motor class of business remains the main activity of Algeria’s number one takaful insurer. It is followed by fire and miscellaneous risks which total 942 279 618 DZD (8 840 000 USD).

For 2016, Salama is expecting a 15% growth of its turnover at 5 515 000 000 DZD (51 742 000 USD).