The Critical Role of Insurance Sector in Algerian Economy during period 2014-2021

Abstract

Insurance is essential for the proper functioning of the economy, Its importance lies in the share of the latter in the constitution of the gross domestic product. Indeed, if this share is very important, it will contribute massively to the economic growth; The latter then makes it possible to improve the economic situation of a country and to evolve the standard of living of the company and make it more efficient in the long term. Insurance has the potential to provide vital support to emerging economies, whereas, its advantages often tend to be overlooked. This paper aims to shed light on the positive contributions insurance offers economically with a special focus in Algeria; Promoting awareness of these benefits may help to create the conditions necessary for insurance to support economic development region; however, it will therefore be needed to adopt new reforms to integrate new measures to develop the sector and to stimulate demand for insurance.