Tunisian insurance market in 2019

The Tunisian insurance market closed the 2019 financial year with a turnover of 2.39 billion TND (853.08 million USD), an increase of 6.1% in comparison with the 2.252 billion TND (748.2 million USD) recorded in 2018.

Non-life insurance premiums improved by 4.9% to 1.83 billion TND (653.2 million USD), that is 76.5% of the total turnover. With a 23.5% market share, life insurance generated 560.8 million TND (200.171 million USD) in written premiums, thus recording a 10.5% growth compared to 2018.

STAR maintains its leading position with a market share of 15.7%. It is followed by COMAR which accounts for 8.9% of the total premiums. Four companies are competing for the 3rd position namely GAT Assurances, Maghrebia, AMI Assurances and ASTREE with market shares ranging between 7% and 7.2% each.

The incurred losses rose by 4.8% to reach 1.507 billion TND (537.91 million USD) in 2019. The market's combined ratio (before reinsurance) stood at 95.9%, thus falling below 100% against 100.2% in 2018. As for investments, they reached 6.1 billion TND (2.177 billion USD) compared to 5.437 billion TND (1.806 billion USD) in 2018.

In Tunisia, only four insurance companies out of a total of 22 operating on the market are listed on the stock exchange. In September 2020, Assurances Maghrebia obtained the agreement in principle of the Board of Directors of the Tunis Stock Exchange (BVMT) to make its IPO.

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