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Algeria’s insurance market has posted robust growth in the first quarter of 2025, with Takaful insurance leading the charge in expansion.
According to the latest figures released by the National Insurance Council, overall turnover in the sector rose by 13.3% year-on-year, reaching 56.9 billion dinars, inclusive of Takaful reinsurance and international operations.
Conventional casualty insurance remained the backbone of the market, generating 46.7 billion dinars in turnover between January and March—a 14.8% increase compared to the same period last year.
Personal insurance contributed approximately 6.5 billion dinars, showing an 8.5% year-on-year rise.
Motor insurance dominated casualty insurance, accounting for 48.2% of the activity with a turnover of 22.6 billion dinars, up 5%.
This was largely attributed to a 13.4% increase in revenue from the mandatory risk segment, which grew to 4.6 billion dinars, following a 15% hike in civil liability tariffs.
The fire and miscellaneous risks segment, which represents 43.7% of the market, registered impressive growth of 30.1%, reaching 20.4 billion dinars—an increase of 4.7 billion dinars from Q1 2024.
Agricultural insurance also recorded positive momentum, with revenues climbing 17.7% to reach 651.7 million dinars.
The multi-risk insurance for agricultural machinery and equipment played a significant role, contributing 30% of the segment’s total activity and growing by 50.2%, an increase of 65.3 million dinars.
Takaful insurance posted triple-digit growth, albeit at a slower rate than previous quarters. The sector surged by 106.3%, reaching 234.3 million dinars in turnover.
Of this, the general Takaful branch contributed 129.1 million dinars, while the family Takaful branch rose by a staggering 156.6% to 105.1 million dinars.
Meanwhile, the Central Reinsurance Company recorded 3.3 billion dinars from international operations, reflecting a modest 1.7% increase.
On the claims side, reported accident values fell by 4.8%, even as the number of filed claims rose by 14.9%. Total compensation paid reached 20.6 billion dinars, with 1.6 million cases still under processing and unpaid compensation estimated at 128.6 billion dinars.
The data underscores strong market confidence and a growing appetite for diversified insurance solutions, especially Sharia-compliant offerings such as Takaful.
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