News Middle East15 Mar 2020

Tunisia:STAR's net profit surges by over 20% in 2019

15 Mar 2020

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.


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