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Nonlife insurers' premiums decline nearly 4% amid rise in unpaid claims

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A report by the National Insurance Council of Algeria found that premiums of nonlife insurers declined nearly 4% year over year to 61.7 billion Algerian dinars ($542 million) in the first half, Middle East Insurance Review reported citing Liberty Algeria. Local insurers settled nearly DZD 27 billion in claims, while DZD 74 billion remained unpaid. The local insurance sector has been hit by a reduction in capital expenditure causing some insurers to undercut premiums.

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