Increasing indemnities paid by Tunisian insurers in Q1 2021

According to the General Insurance Committee (CGA), the indemnities paid by Tunisian insurance companies during the first three months of 2021 have increased by 18.7%. They went from 295.2 million TND (102.834 million USD) in the first quarter of 2020 to 350.5 million TND (124.851 million USD) at the end of March 2021.

Motor claims have declined by 6.4% to reach 138.1 million TND (49.192 million USD) compared to 147.6 million TND (51.417 million USD) a year earlier. This decrease in the claim experience is due to the reduced number of road accidents during the lockdown period in 2020.

During Q1 2021, the market has recorded the underwriting of 843 146 contracts, which represents a 3.6% increase compared to Q1 2020.

As at 31 March 2021, the Tunisian insurers as a whole posted a turnover of 899.9 million TND (320.551 million USD), up by 3.3% over one year. Non-life premiums stood at 732.9 million TND (261.065 million USD) against the 702.5 million TND (244.719 million USD) in Q1 2020, representing a 4.3% jump. The life class of business has generated a turnover of 166.9 million TND (59.45 million USD), decreasing by 1.1% compared to the 168.7 million TND (58.767 million USD) recorded on 31 March 2020.