North Africa : ranking of insurers per 2019’s turnover

Magazine Issue:

2021, a transitional year for insurers [3]

Magazine date:

Feb 2021

Figures in thousands

Rank		Company	Cat*	Country	2019 turnoLer		2018 turnoLer		2018-2019 evolution**
2019	2018	Company	Cat*	Country	In local currency	In USD	In local currency	In USD	2018-2019 evolution**
1	1	Wafa Assurance	C	Morocco	8 853 000	912 390	8 371 000	875 272	5.76%
2	2	Royale Marocaine d'Assurances	C	Morocco	6 816 000	702 457	6 543 700	684 209	4.16%
3	3	Saham Assurance	C	Morocco	5 422 400	558 833	5 223 200	546 138	3.81%
4	4	Misr Insurance	NL	Egypt	8 990 005	537 602	8 557 116	477 573	5.06%
5	5	Mutuelle Taamine Chaabi	L	Morocco	5 123 200	527 997	4 253 000	444 694	20.46%
6	6	Axa Assurance Maroc	C	Morocco	4 645 200	478 734	4 231 100	442 404	9.79%
7	7	Atlanta	C	Morocco	2 664 400	274 593	2 432 900	254 384	9.52%
8	9	Misr Life Insurance Company	L	Egypt	4 403 427	263 325	3 974 449	221 814	10.79%
9	8	SAA	NL	Algeria	29 117 000	243 418	27 679 000	231 673	5.20%
10	12	Marocaine Vie	L	Morocco	2 267 600	233 699	1 825 500	190 874	24.22%
11	10	Sanad	C	Morocco	2 176 300	224 290	2 022 400	211 462	7.61%
12	11	CAAT	NL	Algeria	24 589 000	205 564	24 126 000	201 935	1.92%
13	19	Allianz Life Egypt	L	Egypt	3 120 291	186 593	1 977 820	110 382	57.76%
14	15	Metlife Egypt	L	Egypt	2 854 613	170 706	2 374 033	132 495	20.24%
15	13	MCMA	C	Morocco	1 541 200	158 836	1 418 500	148 318	8.65%
16	14	Allianz Assurance Maroc	C	Morocco	1 479 900	152 518	1 367 100	142 944	8.25%
17	17	STAR	C	Tunisia	374 867	133 805	358 733	119 185	4.50%
18	16	CAAR	NL	Algeria	15 365 000	128 452	15 195 000	127 182	1.12%
19	18	CNMA	NL	Algeria	14 312 000	119 648	14 025 000	117 389	2.05%
20	21	AXA Life Egypt	L	Egypt	2 000 233	119 614	1 598 558	89 216	25.13%
21	20	MAMDA	NL	Morocco	1 034 600	106 626	1 000 700	104 633	3.39%
22	23	CASH Assurances	NL	Algeria	12 676 000	105 971	9 499 000	79 507	33.45%
23	22	CIAR	NL	Algeria	9 866 000	82 480	10 099 000	84 529	-2.31%
24	25	COMAR	C	Tunisia	212 156	75 727	208 052	69 123	1.97%
25	24	CAT	NL	Morocco	693 000	71 421	688 800	72 021	0.61%
26	30	GIG Egypt	NL	Egypt	1 109 933	66 374	971 202	54 203	14.28%
27	31	Bupa Egypt	NL	Egypt	1 085 563	64 917	966 665	53 949	12.30%
28	45	AXA Insurance	NL	Egypt	1 043 389	62 395	589 365	32 892	77.04%
29	26	GAT	C	Tunisia	170 999	61 036	174 570	57 999	-2.05%
30	32	Assurances Maghrebia	NL	Tunisia	169 758	60 593	159 486	52 988	6.44%
31	33	Suez Canal Insurance	NL	Egypt	1 006 705	60 201	938 082	52 354	7.32%
32	34	Astrée Assurances	C	Tunisia	168 279	60 065	155 246	51 579	8.40%
33	28	Maroc Assistance Internationale	NL	Morocco	568 100	58 548	541 700	56 640	4.87%
34	29	AMI	C	Tunisia	161 183	57 533	168 190	55 879	-4.17%
35	39	Allianz Insurance Egypt	NL	Egypt	883 872	52 856	734 044	40 967	20.41%
36	38	Orient Takaful Insurance Company	NL	Egypt	835 060	49 937	734 505	40 993	13.69%
37	27	Saham Assistance	NL	Morocco	471 700	48 613	555 000	58 031	-15.01%
38	40	Egyptian Takaful Insurance	NL	Egypt	808 393	48 342	644 789	35 986	25.37%
39	42	CARTE	NL	Tunisia	127 273	45 429	104 985	34 880	21.23%
40	35	Salama Assurances	NL	Algeria	5 377 000	44 952	5 158 000	43 172	4.25%
41	36	Alliance Assurances	NL	Algeria	5 201 000	43 480	5 002 000	41 867	3.98%
42	37	Assurances BIAT	C	Tunisia	121 799	43 475	125 530	41 706	-2.97%
43	41	MAE	C	Tunisia	120 642	43 062	108 110	35 919	11.59%
44	44	Mutuelle d'Ass. des Transporteurs (MATU)	NL	Morocco	416 600	42 935	317 700	33 219	31.13%
45	43	BH Assurance	C	Tunisia	116 707	41 657	102 087	33 917	14.32%
46	54	QNB Alahli Life Insurance	L	Egypt	671 582	40 161	501 267	27 976	33.98%
47	58	Egyptian Life Takaful Insurance	L	Egypt	657 969	39 346	415 271	23 176	58.44%
48	48	Lloyd Assurances	C	Tunisia	108 488	38 724	93 340	31 011	16.23%
49	49	CTAMA	C	Tunisia	103 846	37 067	90 110	29 938	15.24%
50	57	Suez Canal Life Insurance	L	Egypt	603 920	36 114	415 980	23 216	45.18%
51	50	Trust Algérie	NL	Algeria	4 040 000	33 774	3 547 000	29 688	13.90%
52	51	Royal Insurance	NL	Egypt	544 649	32 570	530 073	29 583	2.75%
53	47	L'Algérienne des Assurances 2A	NL	Algeria	3 877 000	32 412	3 849 000	32 216	0.73%
54	46	GAM	NL	Algeria	3 803 000	31 793	3 859 000	32 300	-1.45%
55	52	Attijari Assurances	L	Tunisia	87 006	31 056	86 455	28 724	0.64%
56	56	Mohandes Insurance Company	NL	Egypt	509 974	30 497	429 760	23 985	18.66%
57	53	Wafa IMA Assistance	NL	Morocco	281 400	29 001	268 400	28 064	4.84%
58	61	Delta Insurance	NL	Egypt	436 493	26 102	336 539	18 782	29.70%
59	68	Wethaq Takaful Insurance	NL	Egypt	401 462	24 007	277 689	15 498	44.57%
60	60	Maghrebia Vie	L	Tunisia	66 144	23 609	58 490	19 433	13.09%
61	59	Cardif El Djazair	L	Algeria	2 742 000	22 923	2 604 000	21 796	5.30%
62	69	Egyptian Saudi Insurance House	NL	Egypt	380 650	22 763	276 421	15 427	37.71%
63	74	GAT VIE	L	Tunisia	61 834	22 071	41 758	13 874	48.08%
64	55	AXA Assurances Algérie Dommage	NL	Algeria	2 616 000	21 870	2 967 000	24 834	-11.83%
65	63	Zitouna Takaful	C	Tunisia	60 563	21 617	52 481	17 436	15.40%
66	62	CARTE Vie	L	Tunisia	58 600	20 917	53 159	17 662	10.24%
67	66	Iskan Insurance	NL	Egypt	325 425	19 460	298 298	16 648	9.09%
68	65	AXA Assurances Algérie Vie	L	Algeria	2 254 000	18 843	2 046 000	17 125	10.17%
69	71	Assurances Hayett	L	Tunisia	50 691	18 094	44 321	14 725	14.37%
70	64	SAPS	L	Algeria	1 947 000	16 277	2 066 000	17 292	-5.76%
71	72	Caarama Assurance	L	Algeria	1 869 000	15 625	1 695 000	14 187	10.27%
72	75	Chubb Life Egypt	L	Egypt	252 453	15 097	228 021	12 726	10.71%
73	73	Euler Hermes ACMAR	NL	Morocco	144 800	14 923	131 700	13 771	9.95%
74	70	AIG Insurance	NL	Egypt	248 782	14 877	267 190	14 912	-6.89%
75	90	Medgulf Insurance	NL	Egypt	237 617	14 210	76 809	4 287	209.36%
76	78	AGLIC	L	Algeria	1 675 000	14 003	1 302 000	10 898	28.65%
77	67	Delta Life Assurance	L	Egypt	216 429	12 942	287 340	16 036	-24.68%
78	76	Macir Vie	L	Algeria	1 541 000	12 883	1 413 000	11 827	9.06%
79	95	Egyptian Takaful Insurance	NL	Egypt	211 927	12 673	38 434	2 145	451.41%
80	85	Libano-Suisse Takaful	L	Egypt	206 898	12 373	125 254	6 990	65.18%
81	-	RMA Assistance	NL	Morocco	113 100	11 656	-	-	-
82	77	Co. Operative Insurance Society	NL	Egypt	193 569	11 575	201 265	11 233	-3.82%
83	79	Tokio Marine Egypt General Takaful	NL	Egypt	191 493	11 451	192 158	10 724	-0.35%
84	83	Arope Insurance	NL	Egypt	187 028	11 184	155 460	8 676	20.31%
85	81	El Amana Takaful	C	Tunisia	31 248	11 154	29 473	9 792	6.02%
86	84	Attakafulia	C	Tunisia	26 463	9 446	22 679	7 535	16.69%
87	82	TALA	L	Algeria	1 117 000	9 338	1 119 000	9 366	-0.18%
88	80	Axa Assistance Maroc	NL	Morocco	86 900	8 956	97 700	10 215	-11.05%
89	86	Coface Maroc	NL	Morocco	62 700	6 462	55 100	5 761	13.79%
90	89	Misr Emirates Takaful Life Insurance	L	Egypt	106 799	6 387	87 701	4 895	21.78%
91	87	Mohandes Life Ins. Company	L	Egypt	106 105	6 345	91 931	5 131	15.42%
92	88	Cotunace	NL	Tunisia	15 782	5 633	15 129	5 027	4.32%
93	91	Chubb Insurance	NL	Egypt	79 699	4 766	72 277	4 034	10.27%
94	96	Société Marocaine d'Ass. à l'Exportation (SMAEX)	NL	Morocco	39 900	4 112	-	-	-
95	92	Le Mutualiste	L	Algeria	467 000	3 904	482 000	4 034	-3.11%
96	94	Arope Life Insurance	L	Egypt	61 667	3 688	54 203	3 025	13.77%
97	93	United Insurance	NL	Egypt	49 783	2 977	67 421	3 763	-26.16%
98	97	Tokio Marine Egypt Family Takaful	L	Egypt	42 293	2 529	33 516	1 870	26.19%
99	-	Tharwa Insurance	NL	Egypt	19 787	1 183	-	-	-
100	98	Export Credit Guarantee Company	NL	Egypt	9 012	539	8 021	447	12.36%
101	-	Tharwa Life	L	Egypt	3 155	189	-	-	-
Total Afrique du Nord					226 865 432	8 795 847	210 858 511	7 872 212	7.59%

* Category
** Evolution in local currency
C : Composite company (life and non-life), NL : Non-life company, L : Life company

Exchange rate 2018 :
as at 31/12 : Algeria DZD/USD : 0.00837 - Morocco MAD/USD : 0.10456 - Tunisia TND/USD : 0.33224
as at 30/06 : Egypt EGP/USD : 0.05581

Exchange rate 2019 :
as at 31/12 : Algeria DZD/USD : 0.00836 - Morocco MAD/USD : 0.10306 - Tunisia TND/USD : 0.35694
as at 30/06 : Egypt EGP/USD : 0.0598