While the Tunisian insurance sector has made significant progress over the years, it has not yet played its role fully as a driver of economic development.
Growth has remained primarily quantitative. However, the real challenge is qualitative: product diversification, financial inclusion, and mobilising national savings, according to Mr Hafedh Gharbi, a former President of the General Insurance Committee (CGA) whose term ran from 2012 to 2023.
In an article written for the media platform webmanagercenter.com, he said, “We need to move from a market that is dominated by motor insurance to a sector that structures investment and social protection.”
Outlining gaps in the Tunisian insurance market, he added that the penetration rate in Tunisia remains modest (2 to 2.5%) compared to regional standards (4.5% for Morocco). The concentration of premiums in the motor insurance sector limits risk diversification and exposes it to high structural claims. At the same time, the development of life insurance remains below its actual potential.