ARO: results of 2018

The Malagasy insurer ARO concludes the year 2018 with a 4.5% increase in sales. These latter increased from 141.674 million MGA (43 million USD) in 2017 to 148.084 million MGA (42 million USD) in the following year.

The fire and miscellaneous classes of business account for 63% of underwritings. It is followed by the life (14% of premiums) and the motor insurance activities (8% of premiums). The Net income has also witnessed an improvement of 11.5% to reach 15.656 million MGA (4.462 million USD).

The loss ratio reached 45.3% and the combined ratio stabilized at 65.1%. The Shareholders’ equity of the leading Malagasy insurer rose from 248.424 million MGA (76 million USD) to 268.066 million MGA (76.4 million USD) thus increasing by 7.9%.