Algeria – The motor insurance market loses 100,000 vehicles
Thursday, 11 03 2016, Category: Insurance and Reinsurance, Country: Algeria
The figures of the Algerian Union of Insurance and Reinsurance Companies revealed that the motor insurance market lost 100,000 vehicles during 2016 due to the lower trading levels of cars in the current year as prices go up and vehicle imports decrease. The quota set for approved agents is 83 thousand vehicles. Therefore, the profits of 11 insurance companies decreased to around 200 billion centimes during first six months of the current year.
According to the numbers of “echoroukonline”, the number of motor insurance contracts for the year 2016 reached 3976710 compared to 3870680 during the same period last year. Turnover reached 35 billion and 458 million Dinars compared to 33 billion and 469 million Dinars last year.