BH Assurance

Magazine Issue:

Magazine date:

Jan 2022

Date of creation: 1995 in Tunis, Tunisia
Class of business: Life and non life
Staff members: 92 employees
Geographical presence: Presence in 12 cities countrywide

BH Assurance in 2020


Ahmed Trabelsi Chairman of the board of directors	Dalila Bader General manager

Share capital	4 907 434 USD
Turnover	47 077 959 USD
Assets	128 673 288 USD
Shareholder’s equity	25 913 096 USD
Net result	3 565 184 USD
Gross non life loss ratio	62.87%
Non life management expenses ratio	28.52%
Gross non life combined ratio	91.39%

Management

Ahmed Trabelsi	Chairman of the board of directors
Dalila Bader	General manager
Sami Banaouas	Manager, technical division
Abderraouf Amiri	Manager, support division
Lotfi M’Sahli	Top manager, finance and accounting
Sahbi Kacem	Top manager, corporate insurance
Maher Ladhari	Top manager, life insurance
Heithem Boussoffara	Top manager, transformation and strategic projects
Nesrine Chouchene	Top manager, control and steering

Shareholding (30/09/2021)

Shareholders	Shares
BH Bank	23.89%
BH Group	18.83%
Private directors	14.99%
Legal entities	41.10%
Natural persons	1.19%

BH Assurance: main technical highlights (2016-2020)

Figures in USD

Indicators	2016	2017	2018	2019	2020
Gross written premiums	31 402 102	36 377 680	33 917 281	41 657 560	47 077 959
Gross non life written premiums	19 198 556	20 452 449	20 424 475	26 516 011	30 712 652
Gross life written premiums	12 203 546	15 925 231	13 492 806	15 141 549	16 365 307
Net written premiums	21 031 916	24 999 255	23 933 955	30 271 682	34 307 484
Gross earned premiums	30 418 978	35 934 360	33 331 488	41 438 828	46 192 115
Gross non life earned premiums	18 215 432	20 009 129	19 838 683	26 297 279	29 826 808
Net earned premiums	28 669 023	33 773 985	31 971 241	41 241 559	44 757 017
Gross incurred losses	16 404 807	20 863 512	18 091 160	19 401 981	22 679 983
Gross non life incurred losses	13 146 535	13 779 695	12 853 381	15 834 094	18 751 676
Net loss ratio	14 033 149	17 312 951	15 842 868	16 983 359	19 093 835
Non life management expenses ratio	4 860 897	5 605 000	5 623 248	7 225 804	8 757 828
Gross non life loss ratio ⁽¹⁾	72.17%	68.87%	64.79%	60.21%	62.87%
Non life management expenses ratio ⁽²⁾	25.32%	27.41%	27.53%	27.25%	28.52%
Gross non life combined ratio ⁽³⁾	97.49%	96.28%	92.32%	87.46%	91.39%
Technical result	3 067 658	3 190 286	3 064 957	4 492 884	4 945 672
Financial income	3 238 125	3 635 161	4 342 252	5 102 505	5 667 953
Net result (after tax)	2 195 353	2 478 877	2 538 610	3 393 489	3 565 184

⁽¹⁾ Gross non-life loss ratio = Gross non-life incurred losses / Gross non-life earned premiums
⁽²⁾ Non-life management expenses ratio = Non life management expenses / Gross non life written premiums
⁽³⁾ Gross non-life combined ratio = Gross non-life loss ratio + Gross non-life management expenses rati

Read also | BH Assurance: 2021 results [4]

BH Assurance: turnover breakdown per class of business (2016-2020)

Figures in USD

Class of business	2016	2017	2018	2019	2020	2020 shares
Health	6 871 365	6 607 924	7 573 514	11 604 353	14 352 848	30.49%
Motor	7 499 997	8 404 767	7 599 384	8 666 174	9 822 816	20.86%
Fire	1 909 398	2 270 198	2 448 565	3 257 810	3 270 968	6.95%
Marine	981 462	1 052 462	1 006 243	1 205 193	1 304 432	2.77%
Engineering	1 302 094	1 254 242	946 859	1 096 420	1 205 183	2.56%
Miscellaneous accident	634 240	862 856	849 910	686 061	756 405	1.61%
Total non life	19 198 556	20 452 449	20 424 475	26 516 011	30 712 652	65.24%
Total life	12 203 546	15 925 231	13 492 806	15 141 549	16 365 307	34.76%
Grand total	31 402 102	36 377 680	33 917 281	41 657 560	47 077 959	100%

BH Assurance: gross written premiums per non life insurance (2016-2020)

Figures in USD

Classes of business	2016	2017	2018	2019	2020	2019-2020 evolution ⁽¹⁾
Health	6 885 596	6 782 831	7 547 293	11 625 477	14 342 095	19.34%
Motor	6 907 833	8 318 305	7 352 871	8 481 402	9 070 232	3.45%
Fire	1 842 148	2 096 629	2 202 885	3 246 123	3 220 101	-4.04%
Marine	1 104 668	1 010 917	1 005 812	1 187 403	1 290 091	5.10%
Engineering	837 387	945 600	916 344	1 041 902	1 156 711	7.40%
Miscellaneous accident	637 800	854 847	813 478	714 972	747 578	1.15%
Total non life	18 215 432	20 009 129	19 838 683	26 297 279	29 826 808	9.72%

⁽¹⁾ Evolution in local currency

BH Assurance: Gross incurred losses per non life insurance (2016-2020)

Figures in USD

Classes of business	2016	2017	2018	2019	2020	2019-2020 evolution ⁽¹⁾
Health	7 185 852	6 212 980	6 057 564	8 819 938	11 569 738	26.90%
Motor	5 029 699	6 236 352	5 474 385	6 018 846	4 741 583	-23.79%
Fire	509 596	736 445	749 343	475 227	2 102 323	327.95%
Marine	275 299	190 100	188 538	262 833	17 711	-93.48%
Engineering	-13 557	251 567	200 759	247 110	400 040	56.60%
Miscellaneous accident	159 646	152 251	182 792	10 140	-79 719	-860.50%
Total non life	13 146 535	13 779 695	12 853 381	15 834 094	18 751 676	14.56%

⁽¹⁾ Evolution in local currency

BH Assurance: gross loss ratio per non life insurance (2016-2020)

Classes of business	2016	2017	2018	2019	2020
Health	104.36%	91.60%	80.26%	75.87%	80.67%
Motor	72.81%	74.97%	74.45%	70.97%	52.28%
Fire	27.66%	35.13%	34.02%	14.64%	65.29%
Marine	24.92%	18.80%	18.74%	22.14%	1.37%
Engineering	-1.62%	26.60%	21.91%	23.72%	34.58%
Miscellaneous accident	25.03%	17.81%	22.47%	1.42%	-10.66%
Total non life	72.17%	68.87%	64.79%	60.21%	62.87%

Exchange rate as at 31/12/2020 : 1 TND = 0.36898 USD ; 31/12/2019 : 1 TND = 0,35694 USD; as at 31/12/2018 : 1 TND = 0.33224 USD; as at 31/12/2017 : 1 TND = 0.40329 USD ; as at 31/12/2016 : 1 TND = 0.42854 USD

BH Assurance : Contact

Siège social	Lotissement AFH BC5 Centre Urbain Nord- 1003-Tunis- Tunisie
Tél	00 216 71 184 200
Fax	00 216 71 184 284
E-mail	commercial [at] bh-assurance [dot] com
Site web	www.bh-assurance.com [5]