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North Africa Insurance Report 2011
Business Monitor International, Dec 2010, Pages: 83
North Africa Insurance Report provides industry professionals and strategists, corporate analysts, insurance associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on North Africa's insurance industry.
There are a number of national insurance markets that have hardly been affected by the global financial crisis. The four that are profiled in this report - Algeria, Libya, Morocco and Tunisia – are examples. All four provide classic examples of how industries can develop rapidly if there is a move towards liberalisation, deregulation and reduction to barriers to foreign entrants. To varying degrees, large insurers (by local standards) have sought to access capital through the local stock markets.
From the point of view of foreign multinationals, North Africa should represent a reasonably attractive business opportunity over the next five years or so. In terms of total premiums, the four countries combined are about two thirds the size of Turkey – and a multiple of Egypt which, in some ways, is more sophisticated than the insurance markets to the immediate West. The relevant figures, for 2008-2010, are shown in the table below. As is not the case in Turkey, foreign insurers have yet to enter the North African markets en masse. Typically, there are no more than two or three foreign groups present, and they usual focus on particular lines of business. Morocco, though, is an important exception in this respect. As is not the case in Egypt, the governments and regulators of the various North African countries are committed to reform and deregulation.
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