Magazine date:
Mar 2017 According to Brahim Djamel Kassali, president of the Algerian union of insurance and reinsurance companies (UAR), the turnover progression for insurers in 2016 will be close to the one reported in 2015, that is nearly 2%.
This poor increase would be accounted for by the good scores obtained in the life and industrial risks classes of business. Agricultural insurance may well witness an equally encouraging progression.
The substantial decline in automobile imports in 2015 (-50%) and the economic hardships faced by the country have dashed insurers’ hope of a strong growth similar to what had been reported between 2005 and 2015. Over this period, the annual turnover witnessed a 12% average increase.
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