Financial Services

While it has grown more than five-fold since the 1990s, Algeria’s insurance industry remains small relative to the size of the economy, with low penetration and density ratios. The sector sees more than half of its profits from automotive coverage, though the life segment has grown swiftly in recent years. Improvements to automotive claims processing and determined efforts to resolve the claims backlog should help rehabilitate the insurance sector’s image somewhat in 2017, and relieve it of a long-standing financial burden. This will allow insurers to focus on expanding promising assistance and SME-tailored products, as well as products across the life segment. This chapter contains interviews with Mohamed Loukal, Governor, Bank of Algeria; Adnan Ahmed Yousif, President and CEO, Al Baraka Banking Group; Yazid Benmouhoub, General Manager, Algiers Stock Market; Mohammed Khelfaoui, Managing Director, Tell Markets; and Mokhtar Naouri, CEO, CASH Insurance.