Strategic Market Intelligence General Insurance in Algeria Market Research Report : Ken Research

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The Report Strategic Market Intelligence: General Insurance in Algeria -2017 gives a comprehensive analysis of the Algerian general insurance market in review period of 2012-2016 and also on forecast period of 2016-2021. The report offers detailed analysis various segments of Algeria’s general insurance market and compares it with its counterparts. The report provides analysis on various distribution channels, risk governance and its impact on general insurance in the country. This report will help in making strategic decisions based on forecasted data and helps in identifying competitive dynamics in the general insurance market. The key competitors in the life insurance market segment of the country are CAAR Compagnie Algerienne d’Assurance et de Reassurance, Societe Nationale d’Assurance, Algerienne des Assurances and CASH Compagnie d’Assurance des Hydrocarbures. The products offered by general insurers in Algeria that are discussed in this report are General insurance, Economy and demographics, Regional position, Foreign Direct Investment, Country Risk, Investment Opportunities, Government Initiatives, Motor insurance, Property insurance, Liability insurance, Marine insurance, Aviation insurance, Transit insurance, Distribution channels, Agencies, Insurance brokers, Direct marketing, Competitive Landscape, Legislation and Compulsory insurance.

The insurance market in Algeria is one of the fastest growing markets in the country. When compared to the size of the economy, it is relatively small. The insurance market has low penetration and density coverage. The premiums are most collected from non – life insurance, though the life insurance market has higher growth rates. After a major legal change in 2011, the insurance market was differentiated into life and non – life insurance markets.

In the non – life segment, automotive insurance contributes to the largest share in the segment. Over the past years, the profit margins from the transport insurance have shrunk. Trends show strong growth in fire, agricultural and miscellaneous insurances. Slower transport insurance growth cites increased investments in real estate as the major reason for slow growing automotive market, that has resulted in slower automotive insurance growth. However, this trend is expected to be short term due to expanding highway network and a young population on the road, who are highly prone to accidents.

Other non – life insurances that will see growth are multi – risk home cover and natural disaster insurance. There has been an increase in businesses engaged in risk consulting and analysis that evaluate risks relating to fire, storage and natural disasters. Along with these, other reforms like independent regulatory authority, flexibility and strategic goals are required to ensure economic prosperity.

To know more, click on the link below:

https://www.kenresearch.com/banking-financial-services-and-insurance/insurance/general-insurance-algeria/156699-93.html

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