Algeria: Life insurance in decline
Thursday, 08 27 2015, Category: Insurance and Reinsurance, Country: Algeria
In 2014, life insurance in Algeria achieved a turnover of 8.5 billion DZD (97.2 million USD), down by 1.2% in one year. This decline is closely related to a 83.6% decrease in health insurance underwritings.
Four years after the establishment of the separation between the life and non life classes of business, the analysis carried out by the insurance national council (CNA) reports that the Algerian life insurance market is currently based on 3 axes: group's benefits with 30.2% of turnover, insurance in case of life and death with a 29% market share and assistance insurance with 25.6%.
These sub-classes of business recorded during the year under review respective evolutions of 17.6%, 9.5% and 22%.