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.
Direct insurance companies in Tunisia recorded a solid increase in their turnover at the end of the first half of 2024, according to figures published by the General Insurance Committee (CGA).
Twenty (20) direct insurers in Tunisia, whose financial statements are available, achieved a combined turnover in 2023 (measured by net premiums written) of TND2,803m ($923m), 6.9% higher compared to TND2,621m in 2022, according to an analysis by Tera Finances.
The overall turnover of the six Tunisian (re)insurers listed on the Tunis bourse amounted to TND835.16m ($270.87m) in the first half of 2024, an increase of 10.3% compared to the corresponding half in 2023.
The Tunisian Insurance and Reinsurance Company (STAR), Tunisia's largest insurer, has announced that its total revenue rose by 9.54% to TND235.26m ($76.5m) in 1H2024 compared to the corresponding half in 2023, according financial statements lodged with the Tunis bourse.
Societe Tunisienne de Reassurance (Tunis Re), the leading reinsurer in the northern African country, has reported a 12.5% increase in turnover in the first six months of this year to TND118.6m ($38.2m), compared to the corresponding half in 2023, according to data published by the reinsurer.
Société Tunisienne de Réassurance (Tunis Re) has promising prospects and is expected to improve its financial performance, indicates BMCE Capital Securities.