In its latest economic outlook report, the National Insurance Council (CNA) has published its forecasts for the Algerian insurance market as at 31 December 2023. Local insurers are expected to post a 2.6% increase in their overall turnover to 168.4 billion DZD (1.3 billion USD).
Non-life premiums are projected to grow by 2.9% to 145.2 billion DZD (1.07 billion USD). As for life underwriting, it should reach 16.8 billion DZD (124.6 million USD), which represents a 4.6% progression.
For the 2023 financial year, Takaful contributions would amount to 215.3 million DZD (1.6 million USD).