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.
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Ken Research
Ankur Gupta, Head Marketing & Communications
sales@kenresearch.com
Ankur Gupta, Head Marketing & Communications
sales@kenresearch.com
+91-9015378249
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