BH Assurance: technical indicators (2014-2018)

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 Assurance In 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 Trabelsi	Chairman of the board
Dalila Bader	Chief Executive Officer (CEO)
Sami Banaoues	Technical manager
Abderraouf Amiri	Support 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

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.