Tunis Re is moving towards a structured and ethical ESG approach, with particular attention paid to the social and environmental issues of its operations, as well as to the company's social responsibility initiatives, according to Mr Mustapha Kotrane, head of the technical division of the reinsurer.
Direct insurance companies in Tunisia recorded a solid increase in their turnover at the end of the first half of 2024, according to figures published by the General Insurance Committee (CGA).
Twenty (20) direct insurers in Tunisia, whose financial statements are available, achieved a combined turnover in 2023 (measured by net premiums written) of TND2,803m ($923m), 6.9% higher compared to TND2,621m in 2022, according to an analysis by Tera Finances.
The overall turnover of the six Tunisian (re)insurers listed on the Tunis bourse amounted to TND835.16m ($270.87m) in the first half of 2024, an increase of 10.3% compared to the corresponding half in 2023.
The Tunisian Insurance and Reinsurance Company (STAR), Tunisia's largest insurer, has announced that its total revenue rose by 9.54% to TND235.26m ($76.5m) in 1H2024 compared to the corresponding half in 2023, according financial statements lodged with the Tunis bourse.
Societe Tunisienne de Reassurance (Tunis Re), the leading reinsurer in the northern African country, has reported a 12.5% increase in turnover in the first six months of this year to TND118.6m ($38.2m), compared to the corresponding half in 2023, according to data published by the reinsurer.
Société Tunisienne de Réassurance (Tunis Re) has promising prospects and is expected to improve its financial performance, indicates BMCE Capital Securities.
The Tunisian Federation of Insurance Companies (FTUSA) has launched an information system to help users determine the sale prices of new or used cars, according to the federation's executive director, Mr Hatem Amira.
Insurance fraud in 2023 is estimated to involve TND80m ($25.7m) to TND85m, Mr Hatem Amira, the executive director of the Tunisian Federation of Insurance Companies (FTUSA), has said.
Societe Tunisienne de Reassurance's (Tunis Re) earnings are strong, underpinned by solid underwriting performance, said Fitch Ratings.