Best’s Market Segment Report: Algeria’s Insurance Market Primed
Demographic, economic and regulatorydevelopments in Algeria appear to bode well for the country’s insurance market, which looksprimed for growth, expansion, foreign investment and profitability, according to a new reportfrom AM Best.In its new Best’s Market Segment Report, “Algeria’s Insurance Market Primed for Growth andExpansion,” AM Best notes several of these potential drivers of growth help set Algeria’sinsurance segment apart from those of other countries in the Middle East and North Africa(MENA) region, bringing advantages and challenges.The report goes on to observe that Algeria’s insurance market continues to recover from thecontraction of premium volumes during the COVID-19 pandemic. While an insurancepenetration rate of less than 1% of gross domestic product (GDP) is still very ...