Tunisian insurance market in 2018: expected growth

TunisAccording to early estimates of the CGA (General Insurance Committee), the Tunisian insurance market could achieve a turnover of 2.4 billion TND (789.66 million USD) in 2018, that is an increase of 14.83% in one year. This rate is higher than the one recorded during the 2016-2017 period, which was of 12.43%.

As a reminder, the market total premiums amounted to 2.09 billion TND (852 48 million USD) in 2017 against 1.85 billion TND (810.38 million USD).

Despite this growth, the net profit would not exceed 100 million TND (32.9 million USD).

The market remains penalized by the size of insurance companies, few of whom have sufficient means to drastically boost their turnover.

The new Tunisian insurance code that will soon be implemented should improve the insurance penetration rate which was only 2.04% in 2017 versus 3.49% in Morocco, 7.55% in Namibia and 13.77% in South Africa. The penetration rate gives an indication of the insurance share in the national wealth measured by the GDP.

Read also | Natural catastrophe insurance could become mandatory in Tunisia

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