2023-06-29 12:32:38
ALGIERS – The national insurance market, all activities combined, generated, in the 1st quarter of 2023, a turnover of 47.5 billion DA, once morest 45.4 billion DA, an increase of 4.6%, compared to the same period of 2022, with the predominance of the “Automobile” insurance branch, indicated the National Insurance Council (CNA) in its latest economic report.
With regard to claims declared to insurance companies, for the first quarter of 2023, they show an amount of 17.3 billion DA, down slightly by 1.4% compared to the same period of the financial year. previous, specified the CNA, adding that the number of these claims was on the other hand up by 8.4%, totaling 372,514 files.
As for compensations, they cumulate an amount of 16.2 billion DA, for a total of 264,439 files settled (including 81 files under insurance (Takaful General), recording an evolution of 25.1% compared to the same period of 2022 (12.9 billion DA).
The claims to be paid are in evolution of 2% for a total amount of 99.7 billion DA, including 11.2 million DA accumulated in Takaful General insurance.
The number of files in stock also marks an increase of 3.1%, i.e. 1,412,093 files once morest 1,369,010 in the same period of the 2022 financial year.
Thus, for the 1st quarter of 2023, the settlement rate of the insurance market grew by 18.8%, compared to the same period of the previous financial year, mentioned the CNA, explaining that the increase in the number of cases settled would be the cause of this increase (+33.3% in 2023 compared to 2022).
The production of damage insurance reached an amount of 40.7 billion DA, once morest 38.8 billion DA at the end of March 2022, i.e. a growth of 4.8%, largely driven by the dominant branches, namely “Automobile and “Fire and miscellaneous risks-IRD” whose respective shares were 50% and 42% of the total premiums issued and collected by damage insurance companies.
“Automobile” insurance recorded, at the end of March 2023, a turnover of 20.3 billion DA, up slightly by 1.2% compared to the same period of the 2022 financial year, representing half achievements of insurance companies.
With regard to the “Fire and various risks” branch, it accumulated a turnover of 17.1 billion DA, once morest 15.7 billion DA as of March 31, 2022, recording an increase of 9.1%, generated mainly by construction risks, up sharply by 78.7%.
Transport insurance also experienced a 13.3% increase in its turnover, reaching 2.1 billion DA, while “Credit” insurance had increased by 3.7%, accumulating a figure of business of 780.3 million DA, resulting from the progression of the sub-branch “Export credit” and “Real estate credit”.
On the other hand, the “Agricultural” branch, which represents only 1.1% of the damage insurance market, fell by 12.2% during the 1st quarter of 2023, compared to the same period of the 2022 financial year.
With regard to the Takaful insurance activity, at the end of March 2023 it totaled a turnover of 28.6 million DA, generated by Takaful General (27.5 million DA) and Takaful familial (1, 1 million DA).
Takaful General insurance is dominated by the automobile branch (90.9%) followed by IRD and Transport.
The personal insurance branch, for its part, achieved a turnover of 5.4 billion DA, an increase of 12.8% compared to the same period in 2022 (4.7 billion DA ).
This development is generated by all the branches, more particularly by “Collective pension” which represents 52% of the achievements of the activity and which has experienced an increase of almost 9%.
Regarding the reinsurance activity, the Central Reinsurance Company (CCR) accumulated during the first three months of the 2023 financial year with a turnover of 1.4 billion AD in international business, marking a decline of 23 %, once morest 1.8 billion DA reached in the same period in 2022, underlined, moreover, the note of the CNA.
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