Ken Research’s Strategic Market Intelligence: Reinsurance in Algeria -2017 gives a comprehensive analysis of the Algerian reinsurance 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 reinsurance market and compares it with its counterparts. The report provides analysis on various distribution channels, risk governance and its impact on reinsurance in the country. This report will help in making strategic decisions based on forecasted data and helps in identifying competitive dynamics in the reinsurance market. The key competitors in the reinsurance market segment of the country are CIAR (Compagnie Internationale D'assurance ET De Reassurance), CAAR (Compagnie Algerienne d'Assurance et de Reassurance) and CCR (Compagnie Centrale de Reassurance). The products offered by the reinsurers in Algeria that are discussed in this report are Reinsurance, Economy and Demographics, Premium Ceded, Premium Retained, Cession Rates, Distribution channels, Reinsurance brokers, Competitive Landscape Legislation, Compulsory insurance, Supervision and control, Non-admitted 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 Algeria, like many other African insurers, the capital bases are very small that disables them to cover oil platforms, airline fleets or power plants. Many local reinsurers do not necessarily have the funds to pay when the catastrophe strikes. Thus, the lack of adequate capital is an impediment of growth for reinsurers in Algeria. In 2017, though the world market saw a moderate decline in reinsurance prices, Algerian reinsurers saw an increase in their reinsurance capacities.
State – owned reinsurers benefit from compulsory cessions on any line of business of operations. Algeria’s improved reinsurance performance is also due to technical performance.
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