COTUNACE: Results 2019

The “Compagnie Tunisienne pour l'Assurance du Commerce Extérieur” (COTUNACE) has recently published its annual financial statements ended on 31 December 2019.

The turnover amounted to 15 782 293 TND (5 633 300 USD) compared to 15 125 877 TND (5 025 370 USD) at the end of 2018: a 4.3% increase over one year. The loss ratio decreased by 44.82% from 9 471 118 TND (3 146 650 USD) in 2018 to 5 225 677 TND (1 865 240 USD) in 2019.

As of 31 December 2019, the shareholder’s equity amounted to 44 183 944 TND (15 770 900 USD): an increase of 10.7% compared to 39 901 515 TND (13 256 700 USD) recorded in 2018. The share capital remained unchanged to be set at 26 500 000 TND (9 458 860 USD).

Despite the significant decrease in the loss ratio and the increase in premiums, the net result for the year 2019 declined by 20.4%. It went from 6 288 933 TND (2 089 410 USD) at the end of 2018 to 5 001 203 TND (1 785 120 USD) by late 2019.

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