Magazine date:
Nov 2011 With roughly 1 billion USD of premiums, the Algerian market is struggling to develop. State-run projects are the main drivers. The market growth rate was confined to 4% in 2010 whereas in 2009 it was of 14%. Only compulsory covers are underwritten by Algerian people even though many of them do not honor these obligations.
Insurers are unable to convince people or to establish a trust-based relationship with them. As a sign of this operational slowdown, the written premiums during the first quarter of 2011 are down by 2.1% in comparison with the same period of 2010.