Star Assurances (STAR) has announced that its consolidated net profit reached TND27.5m ($8.9m) in 2024 against TND23.3m in the preceding year, an increase of 18%. The company's individual net profit grew by 10% to TND29.8m from TND27m for the same period, according to a statement the company lodged with the Tunis Bourse.
STAR’s financial statement for 2024 shows that GWP reached TND431.2m in 2024 versus TND388.9m in 2023, an increase of around 11%.
The board of directors has proposed to distribute a dividend of TND8.397 per share, to be approved at an ordinary general meeting in April.
In addition, the board has decided to convene an extraordinary general meeting in April to approve the following:
- Reduce the nominal value of the company’s shares from TND10 to TND5 each;
- Increase capital through a bonus issue at the rate of seven new bonus shares for six existing shares. The dividend entitlement date for the bonus share is 1 January 2025.
STAR is Tunisia’s oldest and largest insurer. In 2008, Groupama acquired 35% of STAR.