Magazine date:
Jan 2018 The insurance industry in the Maghreb: 2016 ranking of companies per turnover
in millions| Ranking | Companies | Class of business | Country | 2016 premiums | 2015 premiums | 2015/2016 evolution(2) | ||
|---|---|---|---|---|---|---|---|---|
| In LC(1) | In USD | In LC(1) | In USD | |||||
| 1 | Wafa Assurance | C | Morocco | 7 314 | 726 | 6 407 | 651 | 14.1% |
| 2 | Royale Marocaine d'Assurances | C | Morocco | 5 860 | 582 | 5 548 | 564 | 5.6% |
| 3 | Saham Assurance | C | Morocco | 4 392 | 436 | 3 773 | 383 | 16.4% |
| 4 | AXA Assurance Maroc | C | Morocco | 3 928 | 390 | 3 887 | 395 | 1% |
| 5 | Mutuelle Attamine Chaabi | L | Morocco | 2 739 | 272 | 210 | 21 | 1206.8% |
| 6 | Société Algérienne d’Assurance (SAA) | NL | Algeria | 26 875 | 244 | 27 413 | 257 | -2.0% |
| 7 | Compagnie Algérienne d'Assurance Transport (CAAT) | NL | Algeria | 22 615 | 205 | 21 160 | 198 | 3.5% |
| 8 | Atlanta Assurances | C | Morocco | 1 939 | 193 | 1 761 | 179 | 10.1% |
| 9 | Sanad Assurances | C | Morocco | 1 751 | 174 | 1 657 | 168 | 5.7% |
| 10 | La Marocaine Vie | L | Morocco | 1 484 | 147 | 1 360 | 138 | 9.1% |
| 11 | STAR Assurances | C | Tunisia | 322 | 141 | 305 | 151 | 5.4% |
| 12 | Compagnie Algérienne d'Assurance et de Réassurance (CAAR) | NL | Algeria | 15 082 | 137 | 16 638 | 156 | -9.4% |
| 13 | Mutuelle Centrale Marocaine d'Assurance | C | Morocco | 1 315 | 131 | 1 607 | 163 | -18.2% |
| 14 | Allianz Maroc(3) | C | Morocco | 1 212 | 120 | 1 250 | 127 | -3% |
| 15 | Caisse Nationale de Mutualité Agricole (CNMA) | NL | Algeria | 12 649 | 115 | 12 452 | 117 | 1.6% |
| 16 | CASH Assurances | NL | Algeria | 9 887 | 90 | 9 946 | 93 | -0.6% |
| 17 | Mutuelle Agricole Marocaine d'Assurance | NL | Morocco | 858 | 85 | 847 | 86 | 1.3% |
| 18 | Compagnie Internationale d'Ass. et de Réas. (CIAR) | NL | Algeria | 9 182 | 83 | 9 079 | 85 | 1.1% |
| 19 | COMAR Assurances | C | Tunisia | 171 | 75 | 162 | 80 | 5.7% |
| 20 | AMI Assurances | C | Tunisia | 156 | 68 | 138 | 68 | 12.9% |
| 21 | Compagnie d'Assurance Transport (CAT) | NL | Morocco | 634 | 63 | 631 | 64 | 0.4% |
| 22 | GAT Assurances | C | Tunisia | 138 | 60 | 133 | 66 | 3.1% |
| 23 | Assurances Maghrebia | NL | Tunisia | 137 | 59.6 | 121 | 59 | 13.2% |
| 24 | Astrée Assurances | C | Tunisia | 131 | 57 | 124 | 62 | 5.2% |
| 25 | Saham Assistance | NL | Morocco | 470 | 47 | 333 | 34 | 41.1% |
| 26 | Salama Assurances | NL | Algeria | 5 019 | 45 | 4 707 | 44.5 | 6.6% |
| 27 | Maroc Assistance Internationale | NL | Morocco | 435 | 43.2 | 433 | 44 | 0.6% |
| 28 | CARTE Assurances | NL | Tunisia | 99 | 43 | 87 | 43 | 13.3% |
| 29 | Assurances BIAT | C | Tunisia | 96 | 42 | 78 | 39 | 22.9% |
| 30 | Mutuelle Assurance de l'Enseignement (MAE) | C | Tunisia | 96 | 41.8 | 91 | 45 | 5.2% |
| 31 | Alliance Assurances | NL | Algeria | 4 565 | 41.4 | 4 432 | 41 | 3% |
| 32 | Groupe CTAMA | C | Tunisia | 79 | 34 | 72 | 35 | 10.2% |
| 33 | Lloyd Assurances | C | Tunisia | 76 | 33 | 75 | 37 | 0.5% |
| 34 | L'Algérienne des Assurances | NL | Algeria | 3 627 | 32.9 | 3 594 | 34 | 0.9% |
| 35 | Assurances SALIM | C | Tunisia | 73 | 32 | 61 | 30.6 | 19.1% |
| 36 | GAM Assurances | NL | Algeria | 3 329 | 30 | 3 203 | 30 | 3.9% |
| 37 | Mutuelle d'Assurances des Transporteurs (MATU) | NL | Morocco | 293 | 29 | 265 | 27 | 10.5% |
| 38 | AXA Assurances Algérie Dommage | NL | Algeria | 2 569 | 23.3 | 2 496 | 23.4 | 2.9% |
| 39 | Attijari Assurances | L | Tunisia | 53 | 23 | 48 | 23.5 | 11.6% |
| 40 | Trust Algeria | NL | Algeria | 2 453 | 22.3 | 2 152 | 20.2 | 14% |
| 41 | Assurance Hayett | L | Tunisia | 51 | 22 | 39 | 19 | 32.2% |
| 42 | Wafa IMA Assistance | NL | Morocco | 209 | 21 | 177 | 18 | 18.3% |
| 43 | Maghrebia Vie | L | Tunisia | 46 | 20.7 | 42 | 21 | 10.2% |
| 44 | Taamine Life Algérie(TALA) | L | Algeria | 2 191 | 20 | 2 131 | 19 | 2.8% |
| 45 | CAARAMA Assurance | L | Algeria | 2 069 | 19 | 1 784 | 17 | 16% |
| 46 | Cardif El Djazair | L | Algeria | 1 768 | 16 | 1 565 | 15 | 13% |
| 47 | Zitouna Takaful | C | Tunisia | 36 | 15.5 | 27 | 13 | 31% |
| 48 | AMANA Assurances(3) | L | Algeria | 1 697 | 15.4 | 1 479 | 14 | 14.8% |
| 49 | CARTE Vie | L | Tunisia | 34 | 14.7 | 29 001 | 14 345 | 16.7% |
| 50 | AXA Assurances Algérie Vie | L | Algeria | 1 550 | 14 | 1 290 | 12 | 20.2% |
| 51 | Macir Vie | L | Algeria | 1 428 | 13 | 1 358 | 12.7 | 5.2% |
| 52 | Euler Hermes ACMAR | NL | Morocco | 116 | 11 | 108 | 11 | 7.1% |
| 53 | AXA Assistance Maroc | NL | Morocco | 107 | 10.6 | 152 | 15 | -29.8% |
| 54 | El Amana Takaful | C | Tunisia | 22 | 9.6 | 12 | 6 | 77.1% |
| 55 | GAT Vie | L | Tunisia | 19 | 8 | 13 | 6.6 | 38.3% |
| 56 | Assurances At-Takafulia | C | Tunisia | 13 | 5.6 | 9 | 4.7 | 34.3% |
| 57 | COTUNACE | NL | Tunisia | 11 | 4.8 | 9.8 | 4 875 | 12.9% |
| 58 | Le Mutualiste | L | Algeria | 507 | 4.6 | 467 | 4.4 | 8.6% |
| 59 | Coface Maroc | NL | Morocco | 46 | 4.5 | 18 | 1.8 | 157% |
| 60 | MAATEC | NL | Algeria | 469 | 4.3 | 553 | 5.18 | -15.2% |
| 61 | Algerian Gulf Life Insurance Company (AGLIC) | L | Algeria | 30 | 0.00273 | 1 | 0.009 | 2900% |
(2) Exchange rate in local currency
(3) Former Société d'Assurance de Prévoyance & de Santé (SAPS)
L : life company NL : non life company C : composite company (life and non life)
The insurance industry in maghreb: breakdown of premiums per class of business and per country in 2016
in millions| Algeria | Morocco | Tunisia | |||||||
|---|---|---|---|---|---|---|---|---|---|
| In LC(1) | In USD | % | In LC(1) | In USD | % | In ML(1) | In USD | % | |
Motor | 65 158 | 592 | 50.3% | 9 954 | 989 | 28.5% | 834 | 364 | 44.9% |
Health | - | - | - | 3 653 | 363 | 10.5% | 265 | 116 | 14.3% |
Property damage(2) | 44 242 | 402 | 34.2% | 1 318 | 131 | 3.8% | 120 | 52 | 6.5% |
Marine | 6 614 | 60 | 5.1% | 578 | 57 | 1.7% | 59 | 26 | 3.1% |
Credit | 50 | 0.454 | 0.04% | 1 331 | 132 | 3.8% | 14 | 6 | 0.8% |
Other risks(3) | 2 256 | 20 | 1.7% | 3 788 | 376 | 10.8% | 188 | 82 | 10.1% |
Total non life | 118 320 | 1 075 | 91.34% | 20 622 | 2 048 | 59.1% | 1 481 | 646 | 79.7% |
Life | 11 240 | 102 | 8.66% | 14 293 | 1 419 | 40.9% | 376 | 164 | 20.3% |
Grand total | 129 560 | 1 177 | 100% | 34 915 | 3 468 | 100% | 1 857 | 810 | 100% |
(2) In Algeria, property damage includes fire, general third party liability, pecuniary loss, legal protection, natural catastrophes and other property damage.
In Morocco, property damage includes fire and natural events. In Tunisia, Property damage include fire.
(3) In Algeria, other risks include agricultural risks.
In Morocco, other risks include workmen’s compensation, engineering, third party liability, other non life operations and direct companies’ reinsurance acceptances.
In Tunisia, other risks include workmen’s compensation, hail, livestock, engineering and direct companies’ acceptances.
Breakdown of life and non life premiums per country in 2016
Source: countries’ reports (FTUSA-Tunisia, ACAPS-Morocco, Ministry of finance-Algeria) | Exchange rate as at 31/12/2015 - Algeria DZD/USD: 0.00938 - Morocco MAD/USD: 0.10158 - Tunisia TND/USD: 0.49463 | Exchange rate as at 31/12/2016 - Algeria DZD/USD: 0.009086 - Morocco MAD/USD: 0.09932 - Tunisia TND/USD: 0.43639 |
