The reform of the Algerian law on insurance

The Algerian insurance industry is changing. With Algeria's switch to a market economy and with the globalisation of economic exchanges, Algerian insurance law has been greatly modified and adapted. , as evidenced by the recent reforms introduced by Law No. 06/04, February 20, 2006, amending and supplementing Ordinance No. 95/07 of 25 January 1995 pertaining to Algerian insurance law.

In addition, the signing of an agreement concerning insurance between France and Algeria on March 7, 2008 marks the end of the monopoly which prohibited foreign insurance companies to cover risks located in Algeria. The Algerian insurance law will be amended soon to allow foreign insurance companies to operate directly in Algeria. The new Algerian insurance law should also allow them to participate to the privatization of Algerian insurance companies.

Algerian insurance law allows now foreign insurance companies to open in Algeria, branches  Algeria. The conditions and modalities for the opening of these branches, as well as the participation of banks in the capital of Algerian insurance companies have been defined by two orders of the Ministry of Finance of February 20, 2008.