Takaful insurance: over 70% growth by 2025

The public company, he said, has attracted nearly 58,000 participants aiming to reach 100,000 participants by 2026, expanding its network of branches to 50, up from 36, and increasing the number of wilayas covered from 25 to 35. Quoted by APS, the same official said that in terms of subscription premiums, the company plans to "reach 900 million dinars, a growth rate of more than 40% compared to 2025, which will enable the company to maintain its leading position in the market, where it currently holds around 60% of the market share". When asked about its prospects, the company aims to support start-ups and micro-enterprises, referring to the recent signing of an agreement with the National Agency for the Support and Development of Entrepreneurship (NESDA), aiming to assist young people and help them set up start-ups and SMEs. Mr Bouziane also pointed out that the company's participant fund has grown from around DZD 2.23 million in 2023, benefiting nearly 1,500 participants, to DZD 38.26 million. "A surplus that is redistributed to participants is one of the pillars of the 'Takaful' insurance model, based on the principle of solidarity through the pooling of contributions in an independent fund dedicated to claims compensation and risk management." Still looking ahead, Mr Bouziane announced the upcoming launch of a 'takaful' microinsurance product as part of efforts to strengthen financial inclusion and broaden the base of beneficiaries of this type of insurance. In the medium and long term, the company plans to focus on supporting the expansion of Islamic finance by offering products and coverage compatible with banks and other institutions operating in the Islamic finance sector, offering several products. In this regard, Mr Bouziane highlighted the promising prospects for Islamic finance and the positive results achieved, particularly with the imminent issuance of sovereign sukuk, which will "complete the Islamic finance ecosystem in Algeria". El-Djazair Takaful will also "work to promote Islamic finance and Takaful insurance in particular, through the organisation of professional meetings and specialised forums at national and international level, as well as awareness-raising days".