A study published by the stockbroker Mac has confirmed that the Tunisian insurance market is doing better than the entire economy of the country. In 2015, the 22 companies in the sector generated a turnover of 1 679 million TND (830 million USD), a 7.9% increase in comparison with the previous year.
The market is still dominated by non life insurance which contributes up to 82%, compared with 18% for life insurance. The non life class of business remains driven by the motor business, which accounts for 45.7% of the total turnover.
Over the past five years, the market has posted an average annual premium growth rate of 9.3%, while the loss ratio grew by only 7.4%. The life insurance, on the other hand, has posted an average annual growth of 14.3% during the period under study.
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