Algeria: Insurance market set for growth and foreign investment

Source: Middle East Insurance Review | May 2025

Demographic, economic and regulatory developments in Algeria appear to bode well for the country’s insurance market, which looks primed for growth, expansion, foreign investment and profitability, according to a new report from AM Best.

In its new Best’s Market Segment Report, titled ‘Algeria’s Insurance Market Primed for Growth and Expansion’, AM Best notes several of these potential drivers of growth help set Algeria’s insurance segment apart from those of other countries in the Middle East and North Africa (MENA) region, bringing advantages and challenges.

The report says that Algeria’s insurance market continues to recover from the contraction of premium volumes during the COVID-19 pandemic. While an insurance penetration rate of less than 1% of GDP is still very low compared with regional peers and the world average of 6.8%, it indicates that the market has the potential to grow. M

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