Boston, MA -- (SBWIRE) -- 02/03/2014 -- The Algerian insurance industry is relatively small, and consequently has relatively little impact on the global insurance industry. As a percentage of GDP, gross written premiums stood at 0.6% in 2012, as compared to 3.5% for Morocco. The penetration of insurance products is significantly lower than the average penetration rate of 1.5% recorded in other Maghreb countries, suggesting that there is an opportunity for growth. In addition, the Algerian government is planning large-scale infrastructural investments which will require high-value insurance cover. This is likely to be the key driver of growth in the Algerian insurance industry over the forecast period (2013?2017). Algeria is one of the largest oil and gas suppliers in the Maghreb region, and the leading supplier to Europe. Improving economic and business conditions in the EU are likely to increase domestic oil and gas consumption. Consequently, this should accelerate demand for marine, transit and engineering insurance products.
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- The Algerian insurance industry is experiencing change, with the globalization of economic exchanges and Algeria's shift towards a market economy
- The industry recorded a CAGR of 9.8% during the review period, primarily due to an improved regulatory framework with more liberal polices relating to private participation, the introduction of Bancassurance, and compulsory third-party liability and natural disaster insurance provisions
- In terms of gross written premium, Algeria has the sixth-largest insurance industry in Africa and the 67th-largest globally
- The Algerian life insurance segment was the ninth-largest in Africa in 2012, and the 83rd-largest in the world
- The industry is dominated by motor and property insurance. However, life insurance, which accounted for 4.8% of the total industry's written premium in 2012, is projected to attract large-scale investment
This report provides a comprehensive analysis of the insurance industry in Algeria:
- It provides historical values for Algerian insurance industry for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
- It offers a detailed analysis of the key segments and categories in the Algerian insurance industry, along with forecasts until 2017
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions
- It profiles the top insurance companies in Algeria, and outlines the key regulations affecting them
Reasons to Get This Report
- Make strategic business decisions using in-depth historic and forecast industry data related in the Algerian insurance industry and each segment within it
- Understand the demand-side dynamics, key trends and growth opportunities within the Algerian insurance industry
Companies Mentioned in this Report: Societe Nationale d'Assurance, Compagnie Algerienne d'Assurance et de Reassurance, Compagnie Algerienne d'Assurance Transport, Compagnie d'Assurances des Hydrocarbures, Alliance Insurance,
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