Assurances Maghrebia Reports Solid Financial Results for First Half of 2024
Assurances Maghrebia, a major player in Tunisia's non-life insurance sector, has announced solid financial results for the first six months of 2024. According to Atlas Magazine, the insurer recorded a turnover of TND 154.435 million (USD 49 million), representing a 7.59% increase compared to the previous year.
However, the company is facing a significant increase in claims, which rose by 13.8% to reach TND 81.08 million (USD 25.7 million). This surge in claims reflects a higher loss ratio, directly impacting the company's financial results.
On the other hand, financial products experienced a notable decline of 11.3%, amounting to TND 15.42 million (USD 4.9 million) for the semester. This decrease can be attributed to less favorable investment performance and financial yields.
For the entire year 2024, Assurances Maghrebia forecasts a turnover of TND 271.43 million (USD 86.1 million). This projection indicates a continuation of growth for the current exercise, despite the challenges faced in the first half of the year.
