The National Council of Insurance (CNA) published the provisional results of the Algerian insurance market [4] as of 31 March 2021.
Despite the pandemic, the turnover of Q1 2021, all activities combined, increased by 7.7%. The latter went from 40.429 billion DZD (325.03 million USD) in Q1 2020 to 43.545 billion DZD (324.58 million USD) by late March 2021.
The direct market accounts for 93.6% of the total premiums, that is 40.775 billion DZD (303.93 million USD), which represents a 3.3% increase over one year.
With 85.2% of the market share, the non-life activity recorded a turnover of 37.085 billion DZD (276.43 million USD) as of 31 March 2021, thus rising by 4.3% compared to the same period of 2020.
This activity is driven by motor insurance which, with 52% of the total portfolio, recorded 19.274 billion DZD (143.67 billion USD) in premiums compared to 19.913 billion DZD (160.09 million USD) recorded at the end of Q1 2020. This stands for a 3.2% decline. It is followed by the non-life activity which rose by 13.6% and was set at 15.104 billion DZD (112.58 million USD).
Life insurances have witnessed a 5.9% decline in premium income, set at 3.69 billion DZD (27.5 million USD). They represent 8.5% of the total written premiums in Algeria as of 31 March 2021.
During the period under review, the international reinsurance acceptances have grown by 191% to reach 2.8 billion DZD (20.87 million USD) against 951.994 million DZD (7.65 million USD) at the end of March 2020.