Algeria: Insurance offers strategic leverage to agricultural sector
Source: Middle East Insurance Review | Oct 2026
Agricultural insurance is emerging as an engine of growth for the domestic insurance market, promoting diversification, investments, and essential coverage against climate risks.
In an analysis, Mr Cherif Benhabiles, Director General of the National Agricultural Mutual Insurance Fund (CNMA), described the agricultural branch as a strategic lever for an insurance sector that is still largely dependent on motor insurance, reported Young Independent.
The structural modernisation of agricultural insurance is complemented by digital transformation and microinsurance, essential for expanding access to coverage for agricultural populations removed from traditional financial channels. Technological solutions simplify claims processing and significantly reduce payment times.
To deal with challenges such as a penetration rate of less than 1%, Mr Benhabiles advocates overhauling insurance legislation and forming an independent regulatory authority. Other measures such as developing takaful, strengthening human capital and increased cooperation major international reinsurers, are also essential in propelling the market to the next level. M