Good performance by ARO in 2011

ARO has confirmed an 8.5% increase of its 2011 turnover. Gross premiums, therefore, rose from 61 291 million MGA (29 million USD) in 2010 to 66 535 million MGA (30.3 million USD) in 2011. The fire and miscellaneous risks classes of business top the list in terms of premiums, that is, 47.95% of ARO’s portfolio, followed by life insurance with 17.46% and motor insurance with 15.22%. Net result has also grown remarkably by 19.2% attaining 6 591 million MGA (3 million USD).

With a market share up to 55%, ARO is Madagascar’s number one insurer.