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.
Société Tunisienne de Réassurance (Tunis Re) showed an average return-on-equity ratio of 7.6% from 2019 to 2023, says AM Best.
Tunis Re, the locally-incorporated reinsurer with a leading position in the Tunisian reinsurance market, is working on adopting and developing technology, including a massive data management project, according to Ms Lamia Ben Mahmoud, CEO of the reinsurer.
The Tunisian Federation of Insurance Companies (FTUSA) is developing a digital platform which will centralise insurance industry information, according to Mr Hatim Amira, executive director of the organisation.
The Tunisian Insurance and Reinsurance Company (STAR), Tunisia's biggest insurer, has announced that its net profit fell by 15.47% to TND26.97m ($8.64m) in 2023 from TND31.90m in 2022, according financial statements lodged with the Tunis bourse.
Net premiums of direct insurers grew at 6.4% in 2023 to TND3,389m ($1,092m), according to the General Insurance Committee (CGA).
Investment income continued to be the main source of profit for insurers in 2023, on the back of increases in the key interest rate due to the restrictive monetary policy pursued by the Central Bank of Tunisia (BCT).