Insurance records turnover of DZD105.4 billion

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The insurance market made a turnover of DZD105.4 billion in the first nine months of 2018 against DZD102.3 billion during the same period in 2017, up by 3%, said the National Insurance Council (CNA).

The turnover of the property and casualty insurance business was predominant, standing at 94 billion dinars against 90.4 billion dinars in the same period of 2017 (+ 4%).

In contrast, life and health insurance decreased by 8.7 billion DA vs. 10 billion DA (-13.1%).

By branch of property and casualty insurance, automobile insurance turnover remains the largest with more than 52 billion dinars between January and the end of September 2018 compared with 49.51 billion dinars in the same period of 2017 (+5, 1%).

The automobile division, thus, holds 55.4% of the property and casualty insurance portfolio.

As for the fire and miscellaneous risks division (IRD), it achieved a turnover of more than 35 billion AD against 34.1 billion DA, an increase of 2.7% between the two periods of comparison.

CAAT insurance ( Insurance of Catastrophic Effects of Natural Disasters) which holds 11.3% of IRD’s portfolio, contributed to revenue growth by 111% and one-quarter growth; 3.9 billion dinars, due to the tariff increase.

Regarding the Transport branch, its turnover increased to 3.5 billion DA (+ 5.3%).

A good performance was recorded in Maritime Transport, which led the Transport division with a 70.6% share, up 7.1%, followed by Ground Transportation, which gained 2% and holds a close share; 26% of the turnover of the Transport branch.

As for the Air Transport sub-branch, it decreased by 13.1% compared to the same period of 2017, to more than 118 million AD.

The same goes for the Rail Transport sub-branch, which experienced a 6.8% decline in its turnover, which stood at 6.2 million AD.

For the Agricultural Insurance business, sales continued to decline (-7%) due to declines in the Animal Production (-17.4%) and Farmer Liability (-13.3%) sub-sectors.

On the other hand, the Fire and Farm P & C sub-sector posted growth of 56.6%, while Plant Production Insurance revenue increased by 0.7%.

 

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