One of Tunisia's biggest insurers, STAR (Societe Tunisienne d'Assurances et de Reassurances), has posted a net profit of TND22.06m ($7.7m) for the 2019 financial year.
Compared to the 2018 financial year when its net profit amounted to TND17.74m, the 2019 net profit by 24.3%.
STAR reported premium income of TND374.87m in 2019, 4.5% higher than in 2018. Earned premiums rose by 3% to TND370.58m in 2019. Net investment income jumped by 15.9% to TND77.5m last year.
In 2018, the STAR's net results reached TND17.74m on a turnover of TND359m against TND7.05m on a turnover of TND368m in 2017.
The company said last year that it would be pursuing a profitable development strategy, control of overhead costs, modernisation of processes as well as digitalisation.