Algerian insurance market: provisional results 2023

Insurance market in AlgeriaIn its latest economic outlook report, the National Insurance Council (CNA) has published its forecasts for the Algerian insurance market as at 31 December 2023. Local insurers are expected to post a 2.6% increase in their overall turnover to 168.4 billion DZD (1.3 billion USD).

Non-life premiums are projected to grow by 2.9% to 145.2 billion DZD (1.07 billion USD). As for life underwriting, it should reach 16.8 billion DZD (124.6 million USD), which represents a 4.6% progression.

For the 2023 financial year, Takaful contributions would amount to 215.3 million DZD (1.6 million USD).

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