An Analytical Study of the Insurance Industry Reality in Algeria During the Period 1995-2022
An Analytical Study of the Insurance Industry Reality in Algeria During the Period 1995-2022

Summary/Abstract: The insurance industry is a fundamental pillar of any developed economy, playing a vital role in providing financial protection for individuals, companies, and society as a whole. In the context of the economic and social changes that Algeria has experienced in recent decades, the study of the reality of the insurance industry becomes highly significant. This study aims to analyze the state of the insurance industry in Algeria during the period from 1995 to 2022 by examining legislative and regulatory aspects, market structure, and technical and financial activity. The descriptive method was employed to analyze data issued by the Ministry of Finance and the National Insurance Council. The study reached several conclusions, including the notable growth and development in the volume of insurance production, despite its weak contribution to the gross domestic product. It also highlighted the dominance of the property insurance sector and public insurance companies, the weak activity in personal insurance, and the limited presence of mixed and foreign private insurance companies. Moreover, mandatory insurance products, especially automobile insurance, held the largest market share.

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