The Report 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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