The Tunis Stock Exchange has approved in principle the initial public offer (IPO) of the shares of BNA Assurances to the main board of the bourse.
The IPO, however, remains conditional on obtaining the approval of the Financial Market Council, the Tunis Stock Exchange said on 24 June.
BNA Assurances, formerly known as AMI Assurances, was founded in 2003 following the transfer of the portfolio of the cooperative insurance and reinsurance company Ittihad. It applied for the IPO at the end of 2024.
The insurer began a rebranding exercise in December 2024, including a modern new logo reflecting the company's dynamism and ambitions. The rebranding represents a shared vision between the Tunisian insurer and its majority shareholder, Banque Nationale Agricole (BNA). The bank holds a stake of over 50% in the insurance company.
BNA Assurances has one of the most extensive networks throughout Tunisia, with 120 agencies and points of sale.