Astree Insurance Company Releases Interim Financial Statements for the First Half of 2024
Astree, a leading insurance company, has published its interim financial statements as of June 30, 2024. The statements reveal a total net balance of 933,649 million dinars and a net profit of 18,031 million dinars for the period, representing a 7.63% increase compared to 16,700 million dinars recorded at the end of June 2023.
However, this year's 7.63% increase is lower than the 9% growth observed between the end of June 2022 and the end of June 2023, when the net profit rose from 15,400 million dinars to 16,700 million dinars.
The insurance company reported a turnover of 160,890 million dinars, up from 148,180 million dinars during the same period in 2023. This 12,710 million dinar increase is primarily attributed to the growth in turnover from the life insurance branch (5,971 million dinars), auto insurance branch (4,140 million dinars), and fire and multi-risks insurance branch (2,551 million dinars).
At the end of the first half of the 2024 financial year, the company's reported claims amounted to 40,908 million dinars, compared to 46,202 million dinars during the same period of the previous financial year, resulting in a favorable difference of 5,293 million dinars.
The company's overall loss ratio stood at 25.43% as of June 30, 2024, compared to 31.18% as of June 30, 2023, representing an improvement of 5.75 percentage points.
