Rising premium revenues in natural catastrophes insurance

The union Insurance and reinsurance union (UAR) has revealed that the revenues generated by the coverage of natural catastrophe risks has increased by 13% in 2013. Premium revenues have thus climbed to 1.750 billion DZD (22.5 million USD) last year compared to 1.555 billion (20 million USD) in 2012.

The increase was only of 2.4% between 2011 and 2012. Nearly 54% of this amount is accounted for by the coverage of industrial and business risks. The number of contracts grew by 20%, with more than 500 000 policies having been underwritten for householder’s risks and 135 000 for covering industrial and commercial units.