STAR Nationale

The establishment of Star Nationale in June 1977 has put an end to the monopoly of foreign companies on the Chadian market. So far, the local agencies of AGF, Mutuelle Générale Française Accident (currently Mutuelles du Mans) and Union des Assurances de Paris (currently AXA) have brought their portfolio to the new entity which, apart from the Chadian group, gathers two major national economic operators, that is, COTONTCHAD (National Cotton Company) and the Banque Tchadienne de Crédits et de Dépôts.

Partly state-owned company upon its establishment, STAR Nationale started out its operations with a capital of 260 300 000 FCFA (572 000 USD) with Chadian shareholding majority.

Ali Adoum Djaya

General manager

Privatized in 1995, STAR Nationale then becomes a limited company in which state shares are limited to 17%. Before the end of the current year, the present capital of 500 000 000 FCFA (1 million USD) will be raised to 1 000 000 000 FCFA (2 million USD). The company is seeking partners to boost its operations and set up an entity specialized in life insurance.

Main financial highlights 2003-2007

in USD

	2003	2004	2005	2006	2007
Gross written premiums	9 508 000	10 027 000	8 073 200	8 761 000	12 861 800
Written premiums net of reinsurance	7 516 220	6 892 000	5 212 500	5 551 000	8 481 000
Gross earned premiums	10 117 700	9 324 320	8 057 300	9 331 500	12 834 230
Gross incurred losses	5 124 500	4 161 920	2 993 100	2 512 800	5 812 330
Net incurred losses	4 297 700	3 200 130	2 541 500	2 242 900	4 194 700
Loss ratio	50.64%	44.63%	37.15%	26.92%	45.28%
Management expenses	4 213	3 722	3 317	3 850	5 362
Technical result	4 993 200	5 162 400	3 764 600	6 818 700	7 021 900
Financial income	198 000	326 800	542 400	338 600	419 350
Net result (after tax)	136 000	93 800	190 500	34 400	177 500

in thousands USD

Turnover split by class of business: 2003-2007

in USD

	2003	2004	2005	2006	2007	%
Non life
Motor	4 103 300	4 010 200	3 088 300	3 568 700	4 546 500	35.34%
Property	2 146 900	2 770 500	2 333 200	1 985 200	3 356 300	26.10%
Health and accident	1 590 130	1 345 800	976 400	1 148 500	1 607 400	12.50%
Decennial TPL	264 100	339 800	188 839	289 700	351 100	2.73%
Marine	1 113 900	1 050 500	1 121 200	1 148 000	2 314 700	18.00%
Total Non life	9 218 300	9 516 800	7 708 000	8 140 200	12 176 000	94.67%
Life
Total life	289 600	510 300	365 300	620 900	685 800	5.33%
Grand total	9 507 900	1 0 027 100	8 073 300	8 761 100	12 861 800	100%

Turnover split by class of business in 2007

Turnover's evolution by class of business 2003-2007

in thousands USD

Exchange rate FCFA/USD as at 31/12	2003	2004	2005	2006	2007
	0.001984	0.002159	0.001805	0.002095	0.002289

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