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Algeria and Morocco Insurance Report Q3 2016

  • June 2016
  • -
  • Business Monitor International
  • -
  • 70 pages

Includes 3 FREE quarterly updates

BMI View: Both Algeria and Morocco are set to see solid premiums growth in their insurance industriesover the period 2016-2020. The main drivers of growth will be the strengthening of the countries' broadereconomies, as this will lead to lower unemployment rates and improved household disposable incomes -which in turn will lead to greater affordability of insurance solutions. The expansion of bancassurancedistribution channels and new product development, such as takaful and microinsurance in particular, willenable insurers to reach the countries' growing customer pools.

Key Updates And Forecasts

- With only 6% market share, Algeria's life insurance segment is fairly small and underdeveloped due tothe segment's low penetration and density rates. However, life insurance is expected to outpace non-lifeinsurance, with written premiums increasing by an average of 6.5% annually (in local currency terms)between 2016 and 2020.

- Algeria's non-life insurance segment accounts for 94% of total written premiums - making it aconsiderably more established and developed market. Largely driven by property and motor insurance,rapid growth is expected for overall non-life premiums, which are forecast to rise from USD1.1bn in2016 to USD1.5bn in 2020.

- Although the divide is slightly more balanced in Morocco's insurance sector, the life segment is alsosmaller. Moreover, with an average annual growth rate of 3.6%, we expect life insurance to be outpacedby non-life insurance. In 2020, life premiums should reach USD1.3bn.

- With almost 70% market share, non-life insurance constitutes the larger part of Morocco's insurancesector. Non-life insurance is expected to grow rapidly at an average rate of 6.2% between 2016 and 2020,reaching DZM27.4bn (USD3.0bn) in 2020.

Table Of Contents

Algeria and Morocco Insurance Report Q3 2016
BMI Industry View 7
Table: Headline Insurance Forecasts (Algeria 2013-2020) 7
Table: Headline Insurance Forecasts (Morocco 2013-2020) 7
SWOT 9
Algeria Insurance SWOT 9
Morocco Insurance SWOT 11
Algeria Industry Forecast 12
Life Premiums Forecast 12
Table: Life Premiums (Algeria 2013-2020) 15
Table: Life Insurance Claims (Algeria 2008-2015) 16
Non-Life Premiums Forecast 17
Table: Non-Life Premiums (Algeria 2013-2020) 20
Table: Non-Life Insurance Claims (Algeria 2009-2015) 22
Non-Life Sub-Sector Forecast 23
Table: Non-Life Insurance Premiums by Product Line (Algeria 2013-2020) 32
Morocco Industry Forecast 33
Life Premiums Forecast 33
Table: Life Premiums (Morocco 2013-2020) 36
Table: Life Insurance Claims (Morocco 2008-2015) 37
Non-Life Premiums Forecast 37
Table: Non-Life Premiums (Morocco 2013-2020) 40
Table: Non-Life Insurance Claims (Morocco 2009-2015) 40
Non-Life Sub-Sector Forecast 41
Table: Non-Life Insurance Premiums by Product Line (Morocco 2013-2020) 50
Insurance Risk/Reward Index 51
MENA Insurance Risk/Reward Index 51
Table: MENA Insurance Risk/Reward Index - Q316 52
Market Overview 53
Algeria Market Overview 53
The Product Offering 53
The Competitive Landscape 54
Morocco Market Overview 56
The Product Offering 56
The Competitive Landscape 57
Table: Life Insurance Market, 2008-2014 (USDmn) 58
Table: Non-Life Insurance Market, 2008-2014 59
Company Profile 61
Wafa Assurance 61
Methodology 64
Industry Forecast Methodology 64
Risk/Reward Index Methodology 67
Table: Indicators 69
Table: Weighting of Indicators 70

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