Maghrebia

Pioneer of life insurance in Tunisia, Maghrebia has known from the start of its operations in 1973 how to get staffed with a human capital made up of the then best competencies. The company had an innovating key project: to develop a life insurance portfolio.

In partnership with SNA Lebanon and Eagle Star (United Kingdom), the company has turned the Tunisian insurance landscape upside down by creating a genuine network of life producers it had to train, organise and incentivize.

Mr. Abdelaziz Derbel

General Manager

Not only is Maghrebia is renowned for the life sector of which it has always been the undisputed market leader, but also for its training activities. The company uses all the means at its disposal to improve the technical level of its staff members.

Maghrebia's additional strength lies in the quality of its shareholding. With about 45% in stakes in Maghrebia's capital, the Italian group Generali stands as a guarantee of soundness and professionalism. It is the cherry on the cake.

Turnover split by class of business: 2002-2006

in USD

Net written premiums	2002	%	2003	%	2004	%	2005	%	2006	%
Non life
Motor	9 065 431	29.32	9 456 909	27.56	11 583 279	24.84	11 566 280	25.46	15 685 294	28.08
P & C1	9 667 689	31.26	12 717 257	37.06	17 574 919	37.69	17 148 569	37.75	19 092 873	34.16
Marine	2 437 190	7.88	2 584 007	7.53	3 320 072	7.12	2 979 712	6.56	3 453 933	6.18
Health group2	4 936 536	15.96	5 387 613	15.70	7 385 923	15.85	6 864 957	15.11	8 016 299	14.34
Life
Total life	4 818 716	15.58	4 170 782	12.15	6 760 781	14.50	6 865 919	15.12	9 636 044	17.24
Total	30 925 562	100%	34 316 568	100%	46 624 974	100%	45 425 437	100%	55 884 443	100%

¹ Property & Casualty ² Including disability and decease

Premiums split by class of business in 2006

Main financial highlights: 2002-2006

in USD

	2002	2003	2004	2005	2006
Net written premiums	30 925 562	34 316 568	46 624 974	45 425 438	55 884 443
Gross earned premiums	31 429 992	32 322 206	45 820 288	44 701 205	53 755 948
Incurred losses	18 372 093	19 580 439	24 986 236	22 272 385	31 101 450
Loss ratio	58.5%	60.6%	54.5%	49.8%	57.9%
Management expenses	1 449 840	5 958 235	7 922 361	7 327 728	9 087 442
Technical result	2 100 182	1 201 063	3 005 283	6 356 583	3 564 519
Net result (after tax)	1 478 337	876 112	1 350 908	1 780 907	2 409 840

Turnover's evolution: 2002-2006

in millions USD

Loss ratio's evolution: 2002-2006

Exchange rate TND/USD as at 31/12	2002	2003	2004	2005	2006
	0.733	0.733	0.840	0.735	0.779

Thanks: We thank Maghrebia for their kind assistance in the conception of this survey.