Algerian Insurance Market: A Historic Leap

Unsurprisingly, the non-life insurance segment dominates the market, accounting for 82.7% of the total market with a turnover of 165.8 billion dinars, up 8.9%. These insurance policies cover, in particular, motor, industrial, agricultural, transport and credit risks – sectors that drive the bulk of the country’s economic activity.

In the personal insurance sector, which covers life, death, health, assistance and group pension schemes, growth remains more modest according to the same source: “+3.5%, representing a turnover of nearly 22 billion DA”. Although this figure is on the rise, it highlights the structural lag in the development of individual insurance culture in Algeria, particularly in savings and retirement products.

One of the highlights of this financial year is the rise of Takaful insurance, a product compliant with the principles of Islamic finance, which has seen a spectacular 84.3% increase, reaching 1.4 billion dinars in premiums collected. Both segments, General Takaful and Family Takaful, contributed jointly to this performance, driven by growing demand and the expansion of operators’ product ranges.

The Compagnie Centrale de Réassurance (CCR), which operates internationally, reported turnover of “11.2 billion DA from international business, up 11.9%”, the same document adds. This result is largely attributable to new business written and fluctuations in foreign exchange rates.

In terms of claims, the report states that claims amounted to “around 90 billion DA, down 14.2%”, which is good news, mainly due to the absence of major industrial disasters comparable to those of 2024, according to the same source. On the other hand, actual compensation payments rose to “85.6 billion dinars (+7.9%)”, a sign of an acceleration in settlements.

The backlog of claims stands at “131.2 billion dinars, corresponding to more than 1.6 million pending cases”, a volume that calls for greater efficiency in the claims-handling procedures.

“In the fourth quarter alone, the market generated 56.4 billion dinars, up 10.6% on the same period in 2024,” the document explains, confirming sustained momentum right through to the end of the year.