Algeria Insurance Industry – Key Trends and Opportunities to 2027

Powered by

All the vital news, analysis, and commentary curated by our industry experts.

Algeria Insurance Market Insights

The total gross written premiums (GWP) in the Algeria insurance market were estimated at DZD204.2 billion in 2022 and is anticipated to garner a CAGR of more than 6% during the projected period. The Algeria insurance market research report provides a detailed market outlook by product category. It provides values for key performance indicators such as gross written premium, penetration, premium accepted and ceded, profitability ratios, and premium by line of business, during the review period (2018–2022) and forecast period (2023–2027).

Algeria Insurance Market Outlook 2022-2027 (DZD Billion)

Algeria Insurance Market Outlook 2022-2027 (DZD Billion)

Get a free sample for detailed Algeria insurance market forecast insights.

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Algeria economy and demographics, and provides detailed information on the competitive landscape in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country.

Total GWPs (2022) DZD204.2 billion
CAGR (2023-2027) >6%
Historic Period 2018-2022
Forecast Period 2023-2027
Enquire & Decide Discover the perfect solution for your business needs. Enquire now and let us help you make an informed decision before making a purchase.

Latest Developments in the Algeria Insurance Industry

  • In November 2022, Algeria’s Ministries of the Economy and Agriculture announced new short-term credit insurance will be offered for agricultural exporters to Algeria, Lebanon, and Egypt. The product will offer coverage for 18 months with a 90% recovery of loss to help address the challenges of exporting. The rate will depend on the duration of the operation and the associated risk.
  • On December 29, 2022, the Official Gazette published the Ministry of Finance communique stipulating amendments to tax measures of the Finance Law 2023.

Learn more about the latest Algeria insurance market developments in our free report sample

Growth in agriculture insurance will boost the Algeria insurance market growth.

Agriculture insurance protects farmers from losses due to production problems and destruction of crops due to natural calamities. In June 2023, CAAR announced it will launch new agriculture insurance products by September 2023 to support farmers with risk management, mainly relating to droughts in the country.

Growing digitalization and technological advancements have increased the risk of cyberattacks and other cybersecurity-related issues. Cyber insurance helps protect companies against such risks. To capitalize on this trend, in December 2022, CAAR announced it is planning to launch new cyber insurance products targeted at Algerian companies.

For additional insights on each of the Algeria insurance market drivers, access our free report sample @ https://www.globaldata.com/store/talk-to-us/?report=1919491

Algeria Insurance Market Segmentation

Key Segment General Insurance and Life Insurance
Key Line of Business (General Insurance) Motor, Non-Life PA&H, Property, MAT, Liability, Financial Lines, and Miscellaneous
Key Line of Business (Life Insurance Term Life, Pension, and Life PA&H

General insurance emerged as the leading segment in the Algeria insurance market in 2022.

  • The general insurance segment is expected to retain its dominance during the projected period.
  • This category is further classified into motor, property, liability, financial lines, MAT, and miscellaneous insurance. In 2022, motor insurance was the largest line of business, followed by property, and MAT.
  • The life insurance sector in Algeria accounted for around 8% of the total insurance industry’s direct written premium (DWP) in 2022. The sector’s growth was primarily driven by the rise in pension and life personal accident and health (PA&H) policies.

Algeria Insurance Market Insights, 2022 (%)

Algeria Insurance Market Insights, 2022 (%)

Gain additional segment-wise Algeria insurance market insights as you request for free sample

Term life Insurance led the Algeria life insurance market accounting for the highest revenue in 2022.

  • The life insurance segment earned the second highest revenue in Algeria insurance market during 2022.
  • The key line of businesses in the life insurance segment of the Algeria insurance market are term life, pension, and life PA & H. In 2022, term life accounted for the highest Algeria insurance market share, followed by pension, and life PA&H.

Algeria Life Insurance Market Line of Business Insights, 2022 (%)

Algeria Life Insurance Market Line of Business Insights, 2022 (%)

Download free sample at: https://www.globaldata.com/store/talk-to-us/?report=1919491

Key Segments Covered in this Report.

Algeria General Insurance Market Line of Business Outlook (DZD Billion, 2018-2027)

  • Motor
  • MAT
  • Non-life PA&H
  • Property
  • Liability
  • Financial Lines
  • Miscellaneous

Algeria Life Insurance Market Line of Business Outlook (DZD Billion, 2018-2027)

  • Term Insurance
  • Pension
  • Life PA&H

Scope

This report provides a comprehensive analysis of the Algeria insurance industry –

• It provides historical values for the Algeria insurance industry for the report’s 2018–22 review period, and projected figures for the 2023–27 forecast period.

• It offers a detailed analysis of the key categories in the Algeria insurance industry and market forecasts to 2027.

• It profiles the top life insurance companies in Algeria and outlines the key regulations affecting them.

Key Highlights

• Key insights and dynamics of the Algeria insurance industry.

• A comprehensive overview of the Algeria economy, government initiatives, and investment opportunities.

• The Algeria insurance regulatory framework’s evolution, key facts, taxation regime, licensing, and capital requirements.

• The Algeria insurance industry’s market structure giving details of lines of business.

• Algeria’s reinsurance business’s market structure giving details of premium ceded along with cession rates.

Reasons to Buy

  • Make strategic business decisions using in-depth historic and forecast market data related to the Algeria insurance industry, and each category within it.
  • Understand the demand-side dynamics, key market trends, and growth opportunities in the Algeria insurance industry.
  • Assess the competitive dynamics in the Algeria insurance industry.
  • Identify growth opportunities and market dynamics in key product categories.

Alliance Assurances
Générale Assurance Méditerranéenne
AXA Assurances Algérie

Table of Contents

Executive Summary

Economy Overview

Regulation and Compliance

Key Market Trends

Life Insurance: Summary trends and KPIs

Life Insurance: Key Trends by LOB

General Insurance: Summary Trends and KPIs

General Insurance: Key Trends by LOB

Appendix

Reinsurance

Appendix

Frequently asked questions

Algeria Insurance Industry – Key Trends and Opportunities to 2027 standard reports
Currency USD
$1,450

Can be used by individual purchaser only

$2,900

Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company


Undecided about purchasing this report?

Enquire Before Buying Request a Free Sample

Get in touch to find out about multi-purchase discounts

reportstore@globaldata.com
Tel +44 20 7947 2745

Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.

Sample Report

Algeria Insurance Industry – Key Trends and Opportunities to 2027 was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:

  • Assess the relevance of the report
  • Evaluate the quality of the report
  • Justify the cost

Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.

Below is a sample report to understand what you are buying

See what our customers are saying

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise.  The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

Senior Account Manager, TSYS

Related reports

View more Insurance reports
Financial Services
New
Worldline - Competitor Profile
$350 | March 2024
Financial Services
New
Global Risk Report Quarterly Update - Q1 2024
$1,100 | April 2024
Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at Algeria Insurance Industry – Key Trends and Opportunities to 2027 in real time.

  • Access a live Algeria Insurance Industry – Key Trends and Opportunities to 2027 dashboard for 12 months, with up-to-the-minute insights.
  • Fuel your decision making with real-time deal coverage and media activity.
  • Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.