Taking the floor in the general assembly of the Société Tunisienne des Assurances et de Réassurances, (STAR), held on May 10, 2017, Lassaad Zarrouk, chairman of the company’s board of directors and chief executive officer, submitted the financial results consolidated on 31 December 2016.
The Tunisian insurer posted a net result of 15.5 million TND (6.7 million USD) in 2016 versus 73.4 million TND (36.3 million USD) in 2015. The company’s turnover has grown by 5%, going from 305.5 million TND (151 million USD) in 2015 to 322.1 million TND (140 million USD) one year later. Thanks to this outstanding performance, STAR now accounts for 18.2% of the Tunisian market and maintains its number one position among local insurance companies.
With 183 million TND (80 million USD), the motor class of business accounts for 57% of the company’s portfolio and 22% of the overall motor market. The life class of business has posted an 87% growth going from 6.7 million TND (3.3 million USD) in 2015 to 12.5 million TND (5.4 million USD) in 2016.
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