ASTREE Assurances: 2020 results

AstreeThe insurance and reinsurance company ASTREE is closing the year 2020 with a 5.05% increase in its turnover which went from 166.707 million TND (59.5 million USD) as at 31 December 2019 to 175.127 million TND (64.6 million USD) at the end of 2020.

The activity is dominated by the motor class of business which represents 37% of the portfolio. It is followed by the life and health classes of business which account for 23.02% and 13.64% of written premiums respectively.

As at 31 December 2020, the Tunisian insurer has recorded a 50.1% decline in its net profit with 25.5 million TND (9.4 million USD) against the 51.2 million TND (18.27 million USD) posted in 2019. It is worth recalling that the strong increase in the 2019 result was due to the realization of an exceptional capital gain of 38 million TND (13.56 million USD) on the disposal of an asset.

As for the company's shareholder's equity, it stands at 153.3 million TND (56.5 million USD), a decline of 6.4% over one year.

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