The Tunisian insurance and reinsurance company (STAR) maintains its position of local leader with 18.2% of market share in 2016. Increasing by 5% compared to 2015, the turnover of the past year amounted to 322.1 million TND (140 million USD).
On the Maghreb level, the STAR has the eleventh place in the ranking dominated by Wafa Assurance with a turnover of 726.426 million USD. The first Algerian company, SAA ranks only sixth with a turnover of 244.186 million USD.
GovernanceRestructuring at STAR top managment. The governance of the company has been reshaped with the separation of the functions of CEO and Chairman of the Board. The first position was attributed to Hassene Feki and the second one to Samir Mlaouhia.
From 2013 to mid-2017, Lassaad Zarrouk held the position of Chairman/Chief Executive Officer, thus combining both functions. This is the first major change in STAR governance since its inception in 1958.
ChronologyThe change in STAR governance coincides with the death, on July 12, 2017, of its founder Abdelhafidh Zaanoun. A. Zaanoun is not only STAR founder but also the pioneer of the Tunisian insurance market.
A Doctor of Law at the Sorbonne and a graduate in insurance, A. Zaanoun held post-independence positions in the ministry of finance (1956-1957) and the of secretariat State(1958).
He created STAR Assurances in 1958 that he run until 1971. In 1974, he founded the Tunisian press company (Sotupresse), specialized in the distribution of foreign newspapers and magazines. After leaving STAR and simultaneously with his new activities at Sotupresse, A. Zaanoun was appointed advisor to the French firm Faugère and Jutheau, a leader in insurance and reinsurance brokerage at that time.
A. Zaanoun passed away in Tunis at the age of 90.
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