AMI Assurances Publishes Financial Statements for the First Half of 2024
AMI Assurances, a leading insurance company, has released its financial statements for the first six months of 2024. The results show a significant increase in profits of 74.6%, reaching 6,818 MTND. This improvement is attributed to the strong performance of both the Non-Life and Life insurance branches.
Non-Life Insurance
The technical result for Non-Life insurance stood at 5,357 MTND as of June 2024, compared to 3,518 MTND the previous year. The turnover for the first six months of the year reached 72,182 MTND, with 64,744 MTND coming from the Automobile segment and 3,940 MTND from the Group Health segment. Claims and expenses paid out totaled 48,625 MTND, mainly driven by the Automobile segment (44,992 MTND).
In parallel, operating expenses increased to 22,735 MTND, up 15.4% year-over-year. Net investment products reached 8,963 MTND, thanks to a favorable interest rate environment.
The Automobile segment generated technical profits of 7,343 MTND. The Group Health and Fire insurance segments also showed positive profitability, with technical profits of 0,308 and 0,177 MTND, respectively. On the other hand, the Special Risks and Transport segments reported technical losses of -1,243 and -1,159 MTND, respectively.
Life Insurance
The technical result for Life insurance turned positive, reaching 0,810 MTND as of June 2024. Premiums issued and accepted totaled 11,808 MTND.
Overall Performance
Combining these figures with the indicators from the third quarter, marked by an increase in turnover and controlled claims settlement, the exercise appears to be promising for the insurer.
