Magazine date:
Oct 2014 Amara Latrous, chairman of the Algerian union of insurance and reinsurance companies (UAR), had denied in mid-August the rumor of an immediate increase in motor insurance premiums.
The need for future rate adjustments shall be determined by the outcome of ongoing study on motor third party liability. According to the first quarterly report of the National Insurance Council (CAN), the turnover of motor insurance amounted to 19.6 billion DZD (250 million USD), up by 8.2% compared to the first quarter of 2013.
In 2013, motor insurance accounted for nearly 54% of the premium income of the Algerian market.