BH Assurance

BH Assurance was created on the initiative of BH BANK (formerly Banque de l'Habitat) in September 1995 under the name «La société Tunisienne d’assurance Vie et de Capitalisation SALIM». A limited company specializing in life insurance, it had an initial capital of 1 000 000 TND (998 000 USD).

BH AssuranceIn June 1997, the company began underwriting all business lines and was renamed "Assurances Salim". Its capital was increased successively to 4 000 000 TND (2 915 000 USD) and then to 10 000 000 TND (7 286 000 USD) in 2003.

2010: Public listing of "Assurances SALIM": On the occasion of its public listing in 2010, Assurances SALIM further increased its capital from 10 000 000 to 13 300 000 TND (9 131 000 USD).

2019: New era, new identity, new logo, new brand: Assurances SALIM becomes BH Assurance: After 25 years of existence, the company dares to change and embarks on a rebranding action. An operation that has the double benefit of highlighting the label of the group as well as its dynamism. BH Assurance is henceforth establishing itself as a brand of the powerful financial group BH Group. This belonging allows it to improve its notoriety on the local and international markets.

The new identity is inspired by the values of BH BANK. It displays a mix of colors combining a dynamic, passionate red and a reassuring indigo blue, inspiring confidence and peaceful strength. The choice of colours echoes BH Assurance's opening up to new horizons.

BH Assurance in 2018

Employees
83
Share capital
4 652 139 USD
Turnover
35 708 379 USD
Assets
98 860 962 USD
Shareholder's equity
18 791 310 USD
Net result
2 672 669 USD

Management

Ahmed TrabelsiChairman of the board
Dalila BaderChief Executive Officer (CEO)
Sami BanaouesTechnical manager
Abderraouf AmiriSupport manager

Shareholding

BH Assurance, a listed company since 2010, is 43% owned by BH GROUP. The remaining 57% of the capital isdivided between legal and natural persons, the majority of whom are shareholders of BH BANK.

Shareholding at 31/12/2018
BH Assurance

Development and operating evolution

The company's turnover growth has gone through two major periods:

  • 1998-2013: underwritings grew at a relatively rapid pace, from 8 100000 TND (7 350 000 USD) in 1998 to 15 600 000 TND (11 360 000 USD) in 2003, then to 27 600 000 TND (20 740 000 USD) in 2008 to reach 43 100 000 TND (26 140 000 USD) in 2013. However, this growth does not reflect the capabilities of the company which is backed by one of the largest banks of the market.
  • 2014-2019: The company sets more ambitious targets, in line with its potential. Hence, from 2014 to 2018, BH Assurance recorded a strong growth of its turnover. The latter increased from 49 100 000 TND (26 280 000 USD) in 2014 to 73 200 000 TND (31 360 000 USD) in 2016, then to 90 200 000 TND (36 370 000 USD) in 2017 and peaked at 102 000 000 TND (33 880 000) in 2018. This development is reflective of a dynamism the company has to maintain to ensure its sustainability.

BH Assurance : Technical indicators: 2014-2018

Figures in USD
 20182017201620152014
Written premiums
35 708 37931 551 39625 631 16821 514 55617 533 272
Premiums net of reinsurance
25 197 85621 682 56417 166 76713 470 75710 154 409
Earned premiums
35 091 65331 166 89224 828 71720 583 09516 793 828
Incurred losses
19 046 51618 095 51713 390 00710 639 6087 266 477
Loss ratio
54%58%54%52%43%
Management expenses
10680 0998854 0007446 7136 629 0635 879 148
Management expenses ratio
30%28%29%31%34%
Combined ratio
84%86%83%83%77%
Net result
2 672 6692 150 0011 791 9012 118 8081 894 927

BH Assurance : Breakdown of turnover per class of business: 2014-2018

Figures in USD
Class of business20182017201620152014
Technical and miscellaneous risks
5 528 9024 718 0573940 0754124 1163 471 936
Motor
8 000 6927 289 6936 121 6825 309 8433 987 919
Health
7 973 4545731 2405 608 5774 520 6832957 367
Total non life
21 503 04817 738 99015 670 33413954 64210 417 222
Life
14205 33113812 4069960 8347559 9147116 050
Grand total
35708 37931 551 39625 631 16821 514 55617 533 272

Breakdown of 2018 turnover per class of business

BH Assurance GWP

BH Assurance : Forecasts 2019

Figures in USD
Exercices20182019Variation in %
Turnover
35 708 37940 085 65112%
Incurred losses
19 04651655 071 0221%
Acquisition costs
5325 00516 567 4499%
Administration fees
5355 09417 407 27014%
Provisions for unearned premiums
616 727423 685-31%
Combined ratio
84%79%-6%
Total investments
56665 77766226 30217%
Financial income
4571 5574844 8706%
BH Assurance

BH Assurance : Contact

Head officel
Lotissement AFH BC5 Centre Urbain Nord- 1003-Tunis- Tunisia
Phone
00 216 71 184 200
Fax
00 216 71 184 284
Website
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