Algeria: 16 Foreign reinsurance brokers to operate in insurance market

Sixteen foreign reinsurance brokers have obtained authorization to operate in the Algerian insurance market through a ministerial decree.

They are from countries such as France, India, Lebanon, Spain, the UK and the US, reported the Algerian Press Service.
There are currently 23 companies in the Algerian insurance market. Apart from life insurers, they consist of six non-specialized public insurers; two specialized public, one state-owned reinsurer; two insurance mutuals and seven privately owned insurers.
The insurance industry achieved a turnover of DZD119 billion (US$1.22 billion) in 2014 against DZD111 billion in 2013, up by 7.4%.

Source: eWeekly