COMAR
The portfolio legacy of very ancient companies enables COMAR today to have among its main partners the French group AXA.
In thirty years time, COMAR has climbed the rungs of hierarchical ladder that enabled it to stand as the number one private insurance group on the market. The quality of its shareholding with a particularly sound banking group stands as a sizable asset which paved the way for considerable perspectives in the field of bancassurance.
 |
| Rachid Ben Jemia |
| General Manager |
Being active on several fronts, COMAR has engaged in athletic and cultural sponsorship programs which made it a distinguished actor on the Tunis scene.
Taking the risk in the creation of events, COMAR has, for six years, initiated the “Golden COMAR” prize which rewards the best literary works with resounding impact and growing success. The company has also indulged in top level athletic competition with the “COMAR Marathon”, a competition henceforth registered on the agenda of international athletics.
COMAR in 2004
| National rank | 1st insurance company in the private sector 2nd insurance company in the local market |
| Paid up capital | 20 million TND (14.95 million USD) |
| Turnover | 73.59 million TND (54.163 million USD)* |
| Net profit | 8.3 million TND (6.97 millions USD) |
| Shareholder's equity | 49.5 million TND (41.58 million USD) |
| Number of employees | 227 |
| Points of sale - regional delegations - branches - agencies | 84 2 7 75 |
Management
| Chairman | Ismail Khelil |
| General Manager | Rachid Ben Jemia |
| Secretary General | Lotfi Ben Hadj Kacem |
| Senior Manager Quality and Development | Hakim Ben Yedder |
| Senior Manager Underwriting and Services | Abdelkarim Rais |
Main shareholders
| AMEN Bank Group | 80.09% |
| Axa Re | 15.4% |
| Münich Re | 3.021% |
| Various (COMAR's staff members & agents) | 1.489% |
Evolution of premiums: 1969-2005
in thousands TND
| Year | 1969 | 1973 | 1983 | 1993 | 2001 | 2002 | 2003 | 2004 | 2005 |
|---|---|---|---|---|---|---|---|---|---|
Turnover | 380 | 577 | 6 938 | 29 370 | 49 930 | 58 225 | 61 549 | 70 815 | 73 591 |
Portfolio structure as at 31 Decembre 2005
in thousands USD
| Classes of business | Premiums | Share |
|---|---|---|
| Non life | ||
Motor | 24 211 | 44.7% |
Miscellaneous risks | 7 469 | 13.8% |
Fire | 7 323 | 13.5% |
Accident | 6 890 | 12.7% |
Marine | 3 596 | 6.6% |
Third party liability | 1 830 | 3.4% |
Aviation | 347 | 0.7% |
| Life | ||
Life | 2 497 | 4.6% |
Total | 54 163 | 100.0% |
Performances de la COMAR 2000-2004
| Shareholders' equity/ Technical reserves | Shareholders' equity/ Turnover |
|---|---|
 |  |
| Return on equity rate | Technical liabilities' rate of cover |
 |  |
Insurance market in Tunisia: COMAR positioning in 2004
in thousands USD
| Companies | Premiums | Market share | |
|---|---|---|---|
1 | STAR | 155 919 | 29% |
2 | COMAR | 59 485 | 11% |
3 | MAGHREBIA | 46 625 | 9% |
4 | GAT | 45 670 | 8% |
5 | LLOYD | 43 740 | 8% |
6 | ASTREE | 38 232 | 7% |
7 | AMI (ITTIHAD) | 37 711 | 7% |
8 | CARTE | 35 429 | 7% |
9 | MAE | 24 655 | 5% |
10 | SALIM | 15 447 | 3% |
Others | 37 816 | 6% | |
Total | 540 729 | 100% | |
Source: FTUSA 2004 - Annual Report
Exchange rate TND/USD as at | 2001 | 2002 | 2003 | 2004 | 2005 |
0.687 | 0.773 | 0.734 | 0.840 | 0.736 |
Contact
| Head office | COMAR building, Habib Bourguiba Avenue, 1001 Tunis - Tunisia |
| Phone | (+216) 71 340 899 |
| Fax | (+216) 71 344 778 |
dg [at] comar [dot] com [dot] tn | |
| Website |
Subsidiary HAYETT Assurances
| Head office | Immeuble COMAR, Avenue Habib Bourguiba, 1001 Tunis - Tunisia |
| Phone | (+216) 71 333 400 |
| Fax | (+216) 71 254 099 |
dg [at] hayett [dot] com [dot] tn | |
| Website |
Set up by COMAR and AMEN BANK in 1987, HAYETT Assurances is a life, fund and pension insurance specialized company.
Assurances HAYETT in 2005
| Capital | 500 000 TND (368 000 USD) |
| Turnover | 9.717 million TND (7.150 million USD) |
| Number of employees | 45 |
