The National Insurance Council (CNA) has published the provisional results of the Algerian insurance market as at 31 December 2020 which remains heavily impacted by the Covid-19 pandemic.
The 2020 turnover, including all activities, amounted to 147.168 billion DZD (1.11 billion USD), a 3.3% decline compared to the 152.229 billion DZD (1.27 billion USD) recorded in 2019. These figures include direct insurance premiums and international reinsurance acceptances.
As at 31 December 2020, the direct market accounted for 93.4% of all premiums, or 137.467 billion DZD (1.03 billion USD). This amount is declining by 6.1% over one year.
With 85.28% of the market share, the non-life class of business has recorded 125.51 billion DZD (946.89 million USD) of written premiums, which represents a 5.1% drop compared to 2019.
This activity is mainly driven by motor insurance which, with 50% of the total non-life portfolio, posted a turnover of 62.805 billion DZD (473.82 million USD). It is followed by the fire, miscellaneous accidents and marine activities which respectively generated a turnover of 52.368 billion DZD (395.08 million USD) and 6.047 billion DZD (45.62 million USD) in 2020.
Meanwhile, life insurance is reporting a 15.2% drop in premium income which stands at 11.957 billion DZD (90.21 million USD). They represent 8.12% of the total portfolio.
During the period under review, international reinsurance acceptances are up by 64.8% reaching 9.701 billion DZD (73.19 million USD) against 5.888 billion DZD (49.2 million USD) at the end of 2019.
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