Insurance consumption in the Maghreb countries (Algeria, Morocco and Tunisia): Financial and institutional determinants

This article seeks to examine the determinants of insurance consumption in the Maghreb countries (Algeria, Morocco and Tunisia) over the period 1996-2017. We focused mainly on financial and institutional determinants. The main results show that only the level of financial development measured by M2/GDP has a negative impact on the insurance markets. However, we have demonstrated the positive effect of GDP/cap on insurance development in the study countries.