Net insurance premiums for insurance companies in Tunisia reached TND3.82bn ($1.24bn) in 2024, up from TND3.45bn in the previous year, a 10.8% increase, according to preliminary figures released by the General Insurance Committee (CGA), the insurance sector's regulatory authority.
Star Assurances (STAR) has announced that its consolidated net profit reached TND27.5m ($8.9m) in 2024 against TND23.3m in the preceding year, an increase of 18%. The company's individual net profit grew by 10% to TND29.8m from TND27m for the same period, according to a statement the company lodged with the Tunis Bourse.
Provisional results for BH Assurance show that GWP grew by 13% to reach TND199.5m ($62.8m) in 2024 compared to TND176.m in the previous year, according to a company disclosure lodged with the Tunis Stock Exchange.
Tunisian Reinsurance Company (Tunis Re) has achieved satisfactory performance in 2024 with net results exceeding the objectives set.
Tunisia is actively working on a law to introduce a system of insurance against the loss of employment due to economic reasons. A draft of the proposed law was discussed by the country's cabinet in a meeting chaired by Prime Minister Kamel Madouri earlier this month.
The insurance market in Tunisia managed to score double digit growth in the first three quarters of 2024, according to the General Insurance Authority (CGA).
Finance Minister Ms Sihem Boughdiri Nemsia last week announced the establishment of the Tunisian Agency for the Fight against Fraud in the Insurance Sector.
Financial institutions, including insurers and banks, will be required to pay a corporate tax rate of 40%, the government is proposing in the draft Finance Law 2025 (PLF 2025).
Insurance agents are asking themselves questions about the impact of adopting digital tools on the profession, according to National Union of Insurance Agents of Tunisia (Snagat) secretary-general Moncef Felli.
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.