مجلة الإدارة والتنمية للبحوث والدراسات
Volume 15, Numéro 1, Pages 27-40
2026-06-01
The Role Of The Insurance Sector In Supporting Economic Development In Algeria
Authors : Almi Hassiba .
Abstract
The insurance sector serves as a structural mechanism for economic development through risk transfer, long-term capital mobilization, and household income stabilization after adverse events. Algeria's insurance market recorded total written premiums of 172 billion dinars in 2024, at 0.5 percent of GDP, against an OECD average of 5.4 percent. This article examines the economic development functions of the Algerian insurance sector, drawing on official data from the Direction des Assurances and the Conseil National des Assurances for 2024. The analysis identifies three channels through which insurance supports economic growth: capital formation through investable reserves, risk transfer that reduces the cost of credit and investment, and social stabilization through indemnification. Despite capital strength well above regulatory thresholds, the sector's contribution remains limited by low penetration, a product mix concentrated in compulsory motor cover, and weak voluntary uptake of life and property insurance. The 235 percent growth in Takaful premiums in 2024 confirms that supply-side regulatory action releases latent demand.
Keywords
insurance sector ; economic development ; capital formation ; risk transfer ; Algeria
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